Luxury Cars: How is the Market Behaving?

After in 2020 in the Salvadoran market the marketing of vehicles classified as luxury decreased 20%, brands such as BMW expect that 2021 will be better, since its local sales in the first two months of the year started off well by increasing 8% year-on-year.

Monday, March 15, 2021

During last year, 220 premium segment vehicles were sold in El Salvador, 47% of the total number of units sold corresponds to the BMW brand.
According to BMW executives, El Salvador is an important market in Latin America, as there are models that are in high demand compared to what is reported in other larger economies.

See "SUVs: Interest and Consumers in the region"

Alberto Valle, BMW Group area manager for Latin America and the Caribbean, explained to that "... even within the crisis (which generated the covid-19), El Salvador achieved an important mark: it was the country in Latin America with the highest demand for the M2CS model, a high-performance compact vehicle. 'It is the market where more M2CS - the exclusive version of the most compact model of the 'M' range - was sold in the whole region'."

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Valle detailed that "... 'to give an idea, the maximum that has been marketed of the model in question (in other markets) are three, while in El Salvador it doubles it against very large countries such as Colombia or Chile'."

Given that during the first two months of the year the sale of luxury BMW vehicles grew 8% year-on-year, the company's expectations are that 2021 will be a good period, said the executive.

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