In the second quarter of the year, interest on vehicle loans fell considerably, but in recent weeks in the region's markets the outlook changed and the number of interactions associated with the issue increased among consumers.
Through a system that monitors changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long-term demand trends for the different products, sectors and markets that operate in the region.
From January to March 2020, companies in the region bought new tires abroad for $113 million, 4% more than in the same period in 2019, with Costa Rica and El Salvador being the markets that increased imports the most.
Figures from CentralAmericaData's Trade Intelligence Unit: [GRAFICA caption="Click to interact with graphic"]
After vehicle sales practically disappeared due to the decreed quarantine, the distributors in El Salvador begin to notice an incipient reactivation of the market, which is explained by the demand for units for commercial use.
Months ago CentralAmericaData predicted the behavior that is currently confirmed by vehicle distributors in El Salvador.
The Ministry of the Presidency of Panama tenders the car rental service for the use of staff of the institution and its agencies, for the term of 24 months.
Panama Government Purchase 2020-0-03-0-08-LP-038562
"General characteristics for all items:
a) All the cars leased in each of the lines must be at least manufactured in 2019.
b) The used cars will not be delivered by the leasing company with the 40,000 km
Authorities announced that as of August 17, construction, internet retail, vehicle sales, barber shops and beauty salons will be allowed to resume.
Due to the covid-19 outbreak, the Panamanian government has postponed on several occasions the reactivation of productive activities in the country, but after the Cabinet Council and the health advisory teams made an analysis of the current situation, it has been decided to reopen some economic sectors.
The Public Ministry of Guatemala tenders 380 pickups, 42 cars, 2 minibuses and a panel vehicle.
Details of the tenders:
-380 pick up type vehicles, model 2020 at least, engine from 2,000 to 3,000 cc turbo, 16 valves, diesel fuel, 4x4 traction, mechanical transmission, with air conditioning system, 4 doors and 16 valves.
September 17, 2020 is the deadline for receipt of bids.
In the region's countries, more than 21 million people are looking to buy a vehicle online, and of this group of consumers, approximately 7% explore options for purchasing an SUV.
The interactive information system developed by CentralAmericaData monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.
The General Directorate of Public Procurement tenders vehicles, buses and trucks, for State entities during the period 2020-2022.
Panama Government Purchase 2020-1-27-0-99-LM-002148:
"Given the situation of fortuitous case or force majeure, which in some way prevent the holding of the Preliminary Meeting and Approval in person, this will be carried out virtually, using technological means, thus creating a stable 'online' session, which will allow consultations by participants and give verbal or written answers by the General Directorate of Public Procurement.
Due to confinement, the economic crisis and vehicle restriction measures, two out of ten customers in Guatemala cancelled their car insurance.
The spread of covid-19 has generated a health and economic crisis in the country, a situation that caused falls in the income of insurance companies, however, the sector's union considers that it is a temporary effect and that in the coming months sales could recover.
During May and June in most markets of the region the interest of consumers in vehicle maintenance services has rebounded, and currently it is estimated that in Central America about 250 thousand people are looking to hire services associated with the subject through the Internet.
Through a system developed by CentralAmericaData, which monitors in real time changes in the number of consumers trying to purchase a specific product or service in Central American countries, their interests and preferences, it is possible to project short and long term demand trends for different products, sectors and markets operating in the region.
From January to April 2020, Central American companies imported from Mexico $28 million in electric batteries, 4% more than in the same period in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
During May 2020, only 96 vehicles were reported for sale in the Panamanian market, 98% less than the same period in 2019.
The General Comptroller of the Republic reported that in the context of restrictions to economic activity by the outbreak of covid-19 sales have fallen considerably, since between May 2019 and the same month of 2020, the number of new units registered in the country decreased from 4,048 to 96.
At the beginning of 2020, 25% of the automobile type vehicles circulating on the streets of Central American countries were of the KIA, Suzuki, Mazda and Nissan brands, while of the total of light cargo vehicles, Ford, Mitsubishi and Chevrolet monopolized 14%.
The report "Vehicles in Central America", from the Trade Intelligence Unit of CentralAmericaData collects the most updated information on the automotive market in Central American countries.
In Panama, the distributors' union is asking the government to open up sales channels, which is included in the third block of the return to normal scheme, whose start date has not yet been defined.
From January to April 2020 companies in the countries of the region imported from Mexico new tires for $5.9 million, exceeding in 13% the reported in the same period of 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]