Vehicles: Prices and Market Trends

In Guatemala since April 12, interactions in the digital environment associated with the purchase of vehicles has rebounded; however, in April and May, prices of cars and pickups grew more slowly compared to the number reportes on the first quarter of the year.

Thursday, June 18, 2020

Through a system that monitors in real time changes in price levels, interests and consumer preferences in Central American countries, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.

Data from CentralAmericaData's Trade Intelligence Unit indicate that currently more than one million Guatemalan consumers have expressed interest in purchasing a vehicle on the Internet.

From March 8th to April 12th, the short-term trend of consumer interactions associated with vehicle purchases collapsed, but, since April 19th that behavior has been reversed and continues to rebound so far.

When analyzing the local motorcycle market, it details the long term trend that since April 5th the interest of consumers in this topic reports an incipient growth.  When reviewing the short term trend, the increase in interactions is evident and since April 19th the growth is maintained.

So far this year, motorcycle price levels have fallen. For example, in January, February and March, there were -0.29%, -0.27% and -0.39% year-on-year variations, in that order. In April and May, the falls were more pronounced, with -0.69% and -0.95% variations reported, respectively.

Detailed data analyzed that in the first quarter of 2020 price levels of motor vehicles and pick up, grew at an average rate of 1.5%, when compared with that reported in the same period of 2019.

The study states that in the last two months the growth of prices of cars and pick ups slowed compared to the first quarter of 2020, since in April and May were reported annual variations of 0.52% and 0.96%, respectively.

This tool for monitoring prices, consumer interests and potential demand, from any country in the region allows companies to project demand trends and anticipate changes in the different sectors and categories of products and services. This information system allows for weekly tracking of any product or category, resulting in an extremely valuable input for making business decisions in the new commercial reality.

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