New car sales grew by just 5.6% in the first half of the year, well below the 14.8% increase achieved in the same period in 2013.
Figures from the National Statistics Institute reported that between January and July 2014 28.381 new cars were sold, which is 1,511 more than in the same period in 2013.
In the first seven months of this year 33,245 new vehicles were sold, which is 4.7% more than in the same period last year, with Toyota, Hyundai and Kia's being the best-selling brands.
During the first seven months of this year 33,245 new vehicles were sold in the country, 4.7% more than the 31,745 units sold between January and July 2013, maintaining the dynamism of previous months.
Between January and October 2013 car dealers sold 46,983 new vehicles, more than the 6,379 cars sold in the same period of 2012.
The top selling brands include Hyundai, Toyota and Kia. The first had a growth of 9% between January and October, while Toyota and Kia sales increased by 23% and 35% respectively, compared with the previous year.
Between January and July 2013 car dealerships sold 31,745 new cars while in the same period of 2012 the figure was 27,142.
The statistics were supplied by the Automobile Dealers Association of Panama (ADAP). During the first months of 2013 more than 4,603 cars were sold than in the same period in 2012.
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