Between 2009 and 2013 the number of Chinese vehicles in the Costa Rican Public Registry multiplied by 9.
In the last five years, Chinese vehicles went from 0.3% of new cars registered in the country to 2.2% in 2013, according to the National Registry Office. Brands such as BYD, Changan, Geely, Greatwall, JAC and ZAP, have been gaining ground in the Costa Rican market.
In the first quarter of 2013, 17,105 cars were sold , ie 2,296 more than in the same period in 2012.
Prensa.com reports that "this represents an increase of 16% as from January to April 2012 14,809 units were sold, according to statistics from the Automobile Dealers Association of Panama (ADAP)".
The best selling brand during this period was Toyota with 3,672 units, followed by Hyundai with 3,556 units and Nissan 2,460 with new units.
There is an old saying that if something looks too good to be true, it probably is ...
The U.S. company Railroad Development Corp. (RDC), which owns the railway concession in Guatemala, has denied having reached an agreement to sell.
As for the Hyundai Corporation, the Asian giant together with another South Korean company had been mentioned as interested in investing $2,400 million in the creation of a dry canal linking the Atlantic and Pacific coasts of Guatemala by railway. Hyundais denies involvement in the project in any capacity.
Representatives from the Korean companies Hyundai and Yoochang have announced an agreement with the current owner of the Railroad Development Corporation, and a total investment of $2,400 million.
The Korean companies Hyundai and Yoochang Corporation plan to invest in restoring the functioning of the railway linking the Pacific and Atlantic coasts , to create a land alternative to the Panama Canal.
The firms Hyundai Corporation and Sha Yu have shown interest in acquiring a stake in the railroad business.
Guillermo Porras of The Attorney General's Office, said that in the course of this month a delegation from the Hyundai company will arrive for a fact finding mission and to learn about the state of the petition for arbitration that the Railroad Development Corporation (RDC), railways beneficiary, has brought against the Government of Guatemala.