"Rent a Car" in Panama

The Panamanian car rental market has been growing, and has enough space for big international franchises as well as local small businesses.

Monday, January 19, 2009

The analysis of the sector by Raul Carrillo on laestrella.com.pa shows that operators continue to be optimistic in 2009, despite the global crisis: "We want to change the perception that we have to be the most expensive car rental in the country, said the manager of Hertz Panama, Gloria Elisa Vallarino. And for that, Hertz has flete of cars that is 90% Nissan and 10% BMW, for the more demanding clients."
"For a market such as car rental, where around 20 companies, both local and transnational compete, their is always enough room for the Panamanian companies, although, it is clear that most of the growth reflected in the sector is by the franchises, said the general manager of the Automobile Car Rental, Alejandro Escallon."

More on this topic

Panama: Luxury Car Boom  

March 2014

The sustained growth of the Panamanian economy is boosting luxury car consumption, championed by high-end cars.

The increase in sales of vehicles in 2013 in the luxury segment is expected to be repeated in 2014, according to representatives of the brands. The union of distributors also expects an increase, although it is more cautious.

Tourism Down Less than Expected

April 2009

In Costa Rica, the business sector expected a greater drop in the level of reservations for this past Easter.

The study "Perceptions of Costa Rican Tourism Entrepreneurs on the Effects of the Economic Crisis on the Tourism Industry" conducted by the National Chamber of Tourism shows that 71.2% of the entrepreneurs in the sector who in March had projected a decrease in reservations for Easter Week with respect to 2008, only 51.7% still believe that reservations were lower."

Panama: Car Rentals Increase

April 2009

Alamo and Hertz experienced 20% and 6% growth respectively in car rentals.

The increase in rentals in the first quarter when compared with the same period in 2008 indicates that the rental companies have not felt the crisis.

The article in Prensa.com reported statements by companies in the sector where Gloria de Vallarino from Hertz said that although they have experienced an increase in rentals in the first quarter over the same period in 2008, the foreign tourist market decreased by 9%.

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