Accurately calculating the vehicle fleet or estimating the number of specialized machines and tractors used in certain areas is useful information for companies dedicated to the sale of accessories and spare parts to make the right decisions.
In order to minimize the risk of starting to commercialize spare parts and accessories that use specialized machines, tractors or vehicles, or simply to calculate potential sales in certain areas, countries or regions, companies rely on market studies that in some cases are elaborated with Big Data techniques.
Honda Center, a service shop located in Guatemala City's Zone 10, has a potential market of 93 thousand consumers between the ages of 25 and 60 years old, of which 66% are interested in vehicle-related topics, within a 15-minute drive.
Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Business Intelligence team analyzed the environment of some of the main automotive repair shop locations operating in Central American countries. Below is an excerpt of the study's findings.
Corporacion de Industria Automotriz de Beijing, which opened a dealership in La Uruca, San José, expects to sell between 800 and 1,000 vehicles of different types in the next three years.
Company executives informed that the company will offer in the Costa Rican market SUV-type vehicles with prices ranging between $17,900 and $23,900, sedans with a price of $19,200 and the 4x4 segment which will be marketed at $39,900.
From January to June 2020, companies in the region bought new tires abroad for $197 million, with Costa Rica being the only market that increased its imports and Panama the Central American country that reduced its purchases the most in year-on-year terms.
Figures from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Between July and October 2020, the number of people in Panama looking for vehicle transmission repair services online increased by 71%, and the number of Salvadoran consumers who explored options for auto glass repair increased by 60%.
CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchase patterns.
In the first quarter of 2020, the region imported vehicle parts and spare parts for an amount of approximately $267 million, 7% less than that recorded in the same period of 2019, a decrease that is mainly explained by the behavior of purchases by Panamanian companies.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
In the first quarter of the year, Central American countries imported vehicle batteries for $57 million, and 57% was purchased by companies in Guatemala and Costa Rica.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
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"]
The sharp drop expected in the income of centers dedicated to providing general mechanical services for cars and trucks in Central America will be mainly explained by the drop in demand from end consumers and bus rental companies.
The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, taking into consideration various scenarios for the coming months.
As a result of the emergency that Costa Rica is going through due to the spread of the coronavirus, Bridgestone announced that it will temporarily close its industrial plant located in Belen, Heredia.
The company announced that its plant will remain inactive from March 26 to April 12 and that none of the 1,000 employees working on the premises will be dismissed.
Retail sales in the automotive sector in Central America are predicted to be significantly affected by the covid-19 crisis, which would be partially explained by the drop in tire sales.
The "Information System for the Impact Analysis of covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the degree of impact that the crisis will have on companies according to their sector or economic activity, during the coming months.
From January to November 2019, Central American countries imported $72 million in car batteries from Mexico, 2% more than what was purchased in the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
In the first six months of the year, the countries of the region imported $111 million in vehicle batteries, 6% more than in the same period of 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
Explore data in the interactive display.
Variation in Regional Imports Between the first half of 2018 and the same period in 2019, the value of car batteries imported into Central America registered an increase from $105 million to $111 million.