Panama: Car Sales Up 10%

In the first quarter of the year,14,891 new cars were sold, which is 1,298 more than in the same period last year.

Tuesday, April 14, 2015

It is expected that this year the growth rate will be maintained and will rise above the 7% increase that was reported in 2014, when 60,000 new cars were sold during the year. Toyota, Hyundai, Kia, Nissan, Suzuki and Honda were still the most sought after brands, according to information from the Association of Automobile Dealers of Panama (ADAP).

Patricia Vukelja Oduber, executive director of the ADAP, told Prensa.com that "... This increase in sales is surprising. Something more conservative was expected. This unexpected 'good quarter' is attributed to sales that were generated in the summer season, following fairs run by agencies which contributed to an increase in commercial movement. People are taking advantage of these fairs because there are better rates, better prices ... "

"... Calculations were for fewer sales than actually were made, considering that at the start of each year, consumers choose not to move their finances much in order to recover from December expenses and deal with other commitments such as school fees, for example. "

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More on this topic

The Best Selling Cars in Panama

March 2017

The union of vehicle dealers reported that the brands Toyota, Hyundai and Kia led sales in the country, with 35,000 units sold in 2016.

Figures from the Association of Automobile Dealers in Panama (ADAP) indicate that these three brands are the most commonly traded in the country.  Capital.com.pa indicates that the Toyota brand   "... leads the list with 42,249 vehicles sold in the last three years. In 2014 14,223 cars were sold and although in 2015 there was a drop in sales (13,642) they rebounded in 2016 and 14,384 cars were sold."

Panama: Car Sales Up 7%

January 2015

In 2014 60.304 new vehicles were sold, 7% more than in 2013, with Toyota, Hyundai and KIA being the top of the list of best selling brands.

According to the Automobile Dealers Association of Panama (ADAP), sales projections for 2014 were for 58,000 units, however, with the Panama Motor Show sales surpassed 60,000 units. It is expected that for 2015 growth will be around 2% to 4%.

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.

Car Sales in Panama Up 16%

May 2013

In the first quarter of 2013, 17,105 cars were sold , ie 2,296 more than in the same period in 2012.

Prensa.com reports that "this represents an increase of 16% as from January to April 2012 14,809 units were sold, according to statistics from the Automobile Dealers Association of Panama (ADAP)".

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