Costa Rica: $1 billion in Financing for New Vehicles

About 50% of the 147,000 new vehicles sold between March 2016 and December 2017 were financed by banks and financial institutions, for close to $1 billion.

Wednesday, April 19, 2017

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An analysis of the vehicle fleet in Costa Rica by the Business Intelligence Unit at CentralAmericaData reveals that placement of loans for vehicle purchases during the period between March 2016 and March this year amounted to $1.2355 billion. 

344 thousand sales and purchase transactions of vehicles registered in this period were analyzed. Clic para interactuar con la gráficaClic para interactuar con la gráfica 

Of the total number of transactions, 147,000 vehicles were registered for the first time.  About 50% of these transactions were made using some form of financing, with the total amount of loans adding up to close to $1 billion. 

The remaining nearly 200 thousand transactions relate to sales of vehicles that were already registered, in which only one-tenth were brokered using financing. 

Approximately 60 thousand of the vehicles financed correspond to the category of light vehicles, about 28 thousand were motorcycles and the remaining 4,000 are distributed among the categories of freight, passenger transport vehicles and to a lesser extent working machinery.

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More on this topic

Panama: Auto Sales Still Decelerating

May 2017

In the first quarter, 14,230 new vehicles were registered, 11% less than the 16 thousand registered in the same period last year.

Figures compiled by the Office of the Comptroller General of the Republic indicate that in March there were 5,462 new vehicles, distributed as follows: 2,075 are automobiles, 219 are luxury cars, 1,853 are SUVs, 83 are minivans, 103 are vans, 777 are pick up trucks, 142 are buses, 181 are trucks and 29 are registered under the category 'Others'.

Vehicle Fleet in Costa Rica in Numbers

April 2017

Of the total number of vehicles circulating in the country in January 2017, 61% corresponded to automobiles, 21% to motorcycles, 11% to light-duty vehicles and 3% to heavy loads.

Figures from the "Central American Vehicle Park" report, prepared by CentralAmericaData's Business Intelligence Unit, indicates that in January 2017, 1.5 million vehicles were circulating, of which more than half corresponded to automobiles.

Figures on Vehicle Fleet in Panama

October 2016

A report entitled "Vehicular Fleet in Panama in 2015", shows that 70% of vehicles circulating in the country at the end of 2015 were cars, while only 5% were motorcycles.

Data from the report "Vehicular Fleet in Panama 2015" prepared by the Business Intelligence Unit at CentralAmericaData.com, points out that of all the vehicles on the streets of Panama at the end of 2015, 270 thousand units correspond to the years 2000 to 2009, while another 251,000 corresponded to vehicles which are six years old or less.

Boom in Car Sales in Panama Continues

July 2013

From January to May 22,408 new vehicles were sold in the country, 3000 more than in the same period in 2012.

Prensa.com reports that "although 2013 began with a 3% drop in vehicle sales, which was due to an increase in spending generated by the year-end holidays, and therefore a reduced availability of money, subsequent months have shown gradual increases. "

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