Trade Fairs Cancelled in Panama

The Auto Show, which generated direct sales of about $90 million, and Expovivienda, which generated business of about $150 million, were cancelled due to the spread of covid-19.

Monday, March 30, 2020

Following the spread of covid-19, the country is going through a health crisis, a situation that has forced the authorities to prohibit the holding of massive events.

Panamaamerica.com.pa reviews that at the Auto Show, which was scheduled for March 13, vehicle distributors presented the "... latest models of their brands and intended to generate direct sales of $90 million or more than 5,200 new vehicles."

See "Automotive Sector: How Will the Covid-19 impact?"

In this context, according to CentralAmericaData reports, it is predicted that in Central America automotive retail sales will be significantly affected by the covid-19 crisis, which would be partly explained by the drop in tire sales.

You may be interested in "Construction and Impact of the Covid19"

The article adds that "... The fair with the greatest economic impact is Expovivienda, which was supposed to take place from April 16th to 19th and projected to generate sales of 150 million dollars in new apartments and houses this year", was cancelled.

Covid-19: How are the outlook for companies in Central America changing?

We prepared for our clients the report "Information System: Impact Analysis of Covid-19 on Business" that answers these and other questions in times of uncertainty.

Click here to request access to this report.



More on this topic

Car Sales Collapse Again

May 2020

During 2019 and the first month of 2020 in Nicaragua, light vehicle distributors reported that their income improved compared to 2018, however, in February and March of this year sales fell again, due to the crisis caused by covid-19.

In 2018 a political and economic crisis occurred in the country, which impacted the sales of the automotive sector, since for that year on average 200 new units of light vehicles were sold per month.

Panama: Outlook for Consumption

April 2020

Once the economy begins to return to normal, as isolation and mobility restrictions are relaxed, household consumption patterns will have changed significantly.

Using a demand/income sensitivity model developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project the variations in Panamanian household demand for different goods and services as the most critical phases in the spread of covid-19 are overcome and the measures restricting mobility in the country are lifted.

Vehicle Repair: Business Outlook

April 2020

The sharp drop expected in the income of centers dedicated to providing general mechanical services for cars and trucks in Central America will be mainly explained by the drop in demand from end consumers and bus rental companies.

The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, taking into consideration various scenarios for the coming months.

Tires: Production Plant Ends Operations

March 2020

As a result of the emergency that Costa Rica is going through due to the spread of the coronavirus, Bridgestone announced that it will temporarily close its industrial plant located in Belen, Heredia.

The company announced that its plant will remain inactive from March 26 to April 12 and that none of the 1,000 employees working on the premises will be dismissed.

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