Panama: Cars Sales Continue to Lose Strength

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.

Friday, September 12, 2014

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).

Despite the slow down, Asian brands are still the most preferred . Prensa.com reports that "...The Japanese brand Toyota was crowned as the best selling brand in Panama, a position it fought to hold on to with its closest competitor, the South Korean Hyundai. "

"... In 2013 Toyota ranked first in sales having put into circulation 11,936 units, representing an increase of 15% compared to what was sold in 2012, which was 10,360 units. At the moment an average of 4,754 new vehicles are sold every month, according to Adap, which groups together 37 members. "

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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: 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.

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