Vehicle Sales: Optimism for 2020

After registering increases in the number of imported vehicles in November and December, car dealers in Costa Rica expect that this 2020 will reinforce the positive trend.

Monday, January 13, 2020

According to data from the Ministry of Finance in November last year, 4152 vehicles were imported into the country, a figure that exceeds by 12% that registered in the same month of 2018.

The bullish behavior extended to December last year, when 2,666 units were reported, which is 11% higher than the amount imported in the same period last year.

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According to Carlos Aguilar, executive director of the Association of Vehicle and Machinery Importers (Aivema), "... the sector had an improvement in the placement of new cars, mainly in the last quarter of the year. It is key that in 2020 we generate the stimulus that will give people confidence in the economy and reactivate consumption."

Also see "Car Brands: Figures at the Beginning of 2019"

Alex Alens, branch manager of Grupo Purdy Motor, told Nacion.com that "... The main adjustments and the uncertainty of the tax reform have already gone, and a stable behavior of the interest rates and the exchange rate is expected, which will be reflected in a better behavior of the credit."

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More on this topic

Automotive Market: Outlook for 2020

March 2020

Although in 2019 worldwide vehicle sales fell by 3 million units, in Guatemala distributors project that this year local sales could grow between 5% and 10%.

According to Fitch Ratings risk data, at the end of last year reported a significant drop in vehicle sales globally, a decline that was induced by the contraction of the Chinese market.

Costa Rica: Car Imports Down 17%

August 2018

From January to June of this year 35,157 new and used vehicles came into the country, registering a fall of 17% compared to the first half of 2017.

According to figures from the Ministry of Finance, between the first half of this year and the same period in 2017, the number of new vehicles imported into the country went down by 14%, going from 28,203 units to 24,395.

Guatemala: Used Car Trade is Growing

March 2017

Following a downward trend that occurred between 2009 and 2013, sales of used cars have now started to pick up, recording an increase of 35% in 2016 compared to 2015.

Distribution companies attribute the used car sales increase in the last two years to an increase in insecurity and loss of value of the dollar against the local currency. 

Recovery of Cars' Sales in Costa Rica

October 2014

After 2013 recorded a decrease of 3.4% compared to 2012, sales of new and used cars from January to September this year increased by 6% compared to the same period last year.

Elfinancierocr.com notes that "... The Association of Importers of Vehicles and Equipment (Aivema) recorded that, in nine months, 27,161 units have been sold, including cars, pick up trucks, sports vehicles, vans and light trucks; 60 different brands in over 26 dealerships. In the same period in 2013, 25,609 units were sold. "

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