Panama: Car Sales Up 7%

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.

Friday, January 9, 2015

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%.

Prensa.com reports that in 2014 "... Toyota sold 14,223 vehicles, Hyundai placed 10,640 units on the country's roads 9,636 and Kia units. " "...Occupying the top place in sales, the same as in 2013, according to statistics from ADAP. "

Patricia Vukelja Oduber, executive director of the ADAP, added "... Sales campaigns and funding being developed, by both distributors as well as banks, are contributing to this continued growth. In addition Panama's economic growth, population increase with the arrival of foreigners to the country and the installation of new companies are favoring the sector. "



More on this topic

Panama: Car Sales Up 10%

April 2015

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.

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.

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: 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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