In the first four months of the year 18,000 new cars were sold, 10% more than in the same period in 2013.
With the sale of 4,797 new vehicles between January and April 2014, Toyota ranks as the best-selling car brand in the country. In second place is Hyundai, with 3,245 units and in in third place Kia, with 2,917 vehicles sold.
"According to statistics from the Automobile Dealers Association of Panama (ADAP) ...
In 2013 61.815 vehicles entered the country having a total value of $540 million, with Toyota, Kia and Honda being the three most imported brands.
In 2013 vehicle imports into Guatemala fell by 5.5% compared to total imports in 2012, going from $570 million to $540 million (CIF value), according to a report prepared by the Department of Commercial Intelligence at CentralAmericaDATA.COM.
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.
During 2013 the import of used vehicles in Costa Rica declined by 45%, the biggest drop since the 2009 crisis.
Importing used cars has ceased to be a business in Costa Rica. Last year the entry of used vehicles into the country declined by 45%, the strongest decline since the 2009 crisis.
Credit facilities provided by banks and the "new rules for the import sector in relation to the tax value of the units, odometers (mileage meter), total losses and new security devices have all affected sales."
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.
The statistics were provided by the Automobile Dealers Association of Panama, which reported that in October alone 7,054 cars were sold, mainly due to the Panama Motor Show being held which involved about 30 car distributors.
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.
Among the best-selling car brands in Panama were: Hyundai, Toyota, Kia and Nissan.
Under pressure from importers the government has lowered taxes for importing used motor vehicles, but diluted the reduction by increasing the notional taxable value.
Car dealers in Costa Rica are asking for the establishment of a new formula for calculating taxes on used vehicles.
Entrepreneurs reached an agreement to suspend a blockade they had been holding on the North American highway and this Friday will meet with the chief of Finance, Edgar Ayales to hear his response to the taxes charged on used vehicles. "Let's hope that the Treasury helps us establish a new formula for calculating taxes on vehicles. If an agreement is not reached, we will return to the streets," said Cristian Salas, a representative of the Chamber for Used Vehicle Negotiators in Grecia.
The selective consumption tax charged on hybrid cars has dropped from 15% to 10%.
Among the reasons explaining the low penetration of hybrid vehicles in the Costa Rican market is the amount of taxes that are charged.
"New hybrid-electric vehicles under tariff headings 8703 and 8704, with cylinders not exceeding 2,000 cubic centimeters, will be able to benefit from a 20% reduction in the selective consumption tax," states the new provision.
Payment of the bonus raises expectations of better sales in cars and electronic equipment.
Jose Cofino, marketing manager at Volkswagen, said it expects a 30% increase in sales during July, while according to Cofiño Stahl, distributor for Toyota, "July is one of the best months," because the “14” bonus helps people pay the deposit, which in past years resulted in sales increases of 20%.
On June 23rd, Cofiño Stahl, the Toyota distributor in Guatemala will officially launch the hybrid vehicle Toyota Prius.
More than 1.2 million Toyota Prius´ have been sold in 40 countries since it was introduced to the market in 1997, breaking the world record for the sale of vehicles in the hybrid category. The majority of these cars sold are circulating in the United States.
February closed with the sale of 2,769 new cars, but 3,394 units were sold during the same period in 2008.
This represents the lowest figure in the last 12 months.
Journalist Manuel Luna wrote in laestrella.com.pa: "Luxury brands were affected such as Mercedes Benz where 23 cars were sold in January and only 15 were sold in February, while Lexus went from 20 to 8 cars sold.
Ricardo Pérez S.A., a distributor for Toyota, Daihatsu and Hino, is building a logistics center with advice from the Toyota Corporation.
The logistics center, located near the Pacific and Atlantic ports, will open in May.
Fernando Miranda, vice president of post-sales for Ricardo Perez S.A., explained the advantages of the center to La Estrella de Panama: "This project brings efficiency and agility in customer dispatch, reducing time and cost." It will allow the company to “reduce the time between port arrival and placement of the products for sale from 5 to 2 ½ days."
The Ricardo Perez S.A. agency announced that it will sell the car in the market starting in 2009.
The Toyota Prius has beaten the world record in sales for this category, selling more than one million units in the US, Europe, and Japan where it was first sold.
In line with hybrids, this global campaign by Toyota includes the integration of hybrid technology with a domestic connection.