Less Acceleration of Car Sales in Panama

New car sales grew by just 5.6% in the first half of the year, well below the 14.8% increase achieved in the same period in 2013.

Friday, August 29, 2014

Figures from the National Statistics Institute reported that between January and July 2014 28.381 new cars were sold, which is 1,511 more than in the same period in 2013.

"...Official statistics also indicate that the market segment which saw the strongest percentage growth was buses with 1,027 units sold, a 70% increase, followed by minivans (433 units or 23.7%) and luxury cars (1,369 units or 11.4%). "

Raul Abbey, vice president of Comercial de Petro Autos, distributor of Hyundai brand vehicles in Panama, told Capital.com.pa that "... there is no doubt that the Panamanian automotive market again this year could exceed 50,000 units sold, but he believes that it is unlikely that this trend will continue in the medium and long term, as economic growth has slowed this year and all the projections indicate that it will be more moderate in the coming years. "

Do you need more information about your business sector?

Request more information:








this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

Panama: Cars Sales Continue to Lose Strength

September 2014

In the first eight months of the year car sales increased by 5% compared to the same period last year, a rate which is less than the growth in previous months.

The speed of growth in car sales in Panama continues to decline. Between January and August 38,034 vehicles were sold, which is just over the 36,190 units sold in the same period in 2013, according to data from the Association of Automobile Dealers in Panama (Adap).

Panama: Sales of New Cars Up 4.7%

August 2014

In the first seven months of this year 33,245 new vehicles were sold, which is 4.7% more than in the same period last year, with Toyota, Hyundai and Kia's being the best-selling brands.

During the first seven months of this year 33,245 new vehicles were sold in the country, 4.7% more than the 31,745 units sold between January and July 2013, maintaining the dynamism of previous months.

Panama: Automotive Boom Continues

May 2014

In the first four months of the year 18,000 new cars were sold, 10% more than in the same period in 2013.

With the sale of 4,797 new vehicles between January and April 2014, Toyota ranks as the best-selling car brand in the country. In second place is Hyundai, with 3,245 units and in in third place Kia, with 2,917 vehicles sold.

Utility Vehicle Sales in Guatemala Grow

June 2012

In the first 5 months of the year, importers sold 2,960 new trucks, an increase of 63% compared to the same period in 2011.

In the first 5 months of 2011 1,820 new trucks were sold meaning that the figures for the first 5 months of this year show an increase of 62.6%, despite rising fuel prices.

 close (x)

Receive more news about Auto Industry

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Mar 30)
Brent Crude Oil
26.36
Coffee "C"
118.4
Gold
1,640
Silver
14.185