Although the downward trend in new vehicle sales continues in Panama, the declines in the number of units marketed reported in recent months compared to the same periods in 2018 are decreasing.
According to the most recent figures of the General Comptroller's Office of the Republic the falls are lower, because from January to July 2019 27,484 vehicles were registered, an amount that is 5% lower than that recorded in the first seven months of 2018.
When reviewing the quantities of vehicles sold per month, the report states that only in May was reported a variation from the same month of 2018 of -12%, in June the indicator was -3% and in July was recorded a 15% increase.
Economist Olmedo Estrada told Panamaamerica.com.pa that the behavior "... has a lot to do with optimism in consumers. Yet, despite the fact that only two months have gone by since the new government, there is no such generalized optimism that we see a rebound in activities, but something has improved the economy."
Estrada added that "... these figures indicate that for the coming months these numbers will vary substantially and by the end of the year they could have positive figures, since the same economic environment is optimistic and that is what allows investments in economic activities to take place."
Costa Rica, Panama and Nicaragua are the Central American markets which reported reductions in sales of new and used vehicles during 2018.
According to figures from the Ministry of Finance of Costa Rica, from January to November 2018 imports of new vehicles totaled 31,008 units, and used vehicles 17,134 units, registering falls of 12% and 23% respectively compared to the first eleven months of 2017.
Between January and September 2018, in accordance with the behavior reported since last year, 37,078 new vehicles were registered, 13% less than in the same period in 2017.
According to the most recent figures of the General Comptroller, from January to September 2018, 12,938 new automobile type vehicles were registered, 21% less than the 16,299 units registered in the same period of 2017.
During the first eight months of 2018, 33,343 new vehicles were registered, 13% less than in the same period of 2017, according to the behavior reported since last year.
The latest figures from the General Comptroller's Office show that from January to August 2018, 11,767 new car-type vehicles were registered, 20% less than the 14,643 units registered in the same period in 2017.
Between January and May of 2018, 21,716 new units were registered in Panama, 12% less than in the same period in 2017, reaffirming the downward trend observed since last year.
The most up-to-date figures from the Office of the Comptroller General of the Republic show that from January to May 2018, 7,747 new vehicles were registered, 19% less than the 9,549 units registered in the same period in 2017.
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