Costa Rica, Panama and Nicaragua are the Central American markets which reported reductions in sales of new and used vehicles during 2018.
According to figures from the Ministry of Finance of Costa Rica, from January to November 2018 imports of new vehicles totaled 31,008 units, and used vehicles 17,134 units, registering falls of 12% and 23% respectively compared to the first eleven months of 2017.
Up to December 2017, 45% of the vehicles circulating in countries in the region were automobiles, and 13% were light load units.
Data from the report "Vehicular Fleet in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, details the different characteristics of the vehicles that transit the streets of Central American countries.
As of June 2017, 36% of automobile or sedan-type vehicles that circulated in countries in the region were of the Toyota and Hyundai brands.
Data from the report "Vehicle Fleet in Central America 2017" compiled by the Business Intelligence Unit at CentralAmericaData shows different characteristics of the vehicles circulating in Central American countries.
A bill proposes obliging importers of used vehicles to submit a certificate of technical-mechanical revision and gas control, which must be issued at least 30 days before the shipment date.
The preliminary draft of law 580 presented in the National Assembly would discourage the importation of used cars, according to entrepreneurs in the sector.The proposed law establishes a series of requirements that importers of used vehicles must comply with in order to bring them into the Panamanian market.
Currently, the average engine size of new cars sold in Guatemala is 1,485 cc, while in 2011, the average size was around 1,625 cc.
Figures from CentralAmericaData's report entitled "Central American Vehicle Park" show that between 2011 and 2017, the average engine size of the vans sold in Guatemala was also reduced, as in 2011 average engine capacity was 2,962 cc, while in 2017 this figure is around 2,419 cc.
In December 2016, 20% of the vehicles circulating in the countries of the region were between 1 and 5 years old, and 19% between 6 and 10 years old.
Data from the report"Vehicle Fleet in Central America 2016" compiled by the Business Intelligence Unit at CentralAmericaDatashows the different characteristics of the vehicles circulating in Central American countries.
Between January and September 2016 the value of imports of vehicle parts and accessories from the USA fell by 7% compared to the same period in 2015.
Figures from the Information Systemon the Market for Vehicle Parts and Accessories in Panama, compiled by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with graphics"]
They are 1.2 million vehicles in circulation in the country, of which 75% were registered in the provinces of Panama and Panama West.
From a report by the Traffic and Transportation Authority of Panama:
The auto fleet in Panama stands at 1,221,999 registered vehicles, according to the National Single Registry of Motor Vehicles (RUVM) at the Land Transport and Transit Authority (ATTT).
A report entitled "Vehicular Fleet in Panama in 2015", shows that 70% of vehicles circulating in the country at the end of 2015 were cars, while only 5% were motorcycles.
Data from the report "Vehicular Fleet in Panama 2015" prepared by the Business Intelligence Unit at CentralAmericaData.com, points out that of all the vehicles on the streets of Panama at the end of 2015, 270 thousand units correspond to the years 2000 to 2009, while another 251,000 corresponded tovehicles which are six years old or less.
In December 2015, 22% of the vehicles circulating in the countries of the region were between 1 and 5 years old, and 19% were between 6 and 10 years old.
The report "Vehicular Fleet in Central America in 2015," compiled by the Business Intelligence unit at CentralAmericaData com details the age of vehicles circulating in the countries in Central America.
In 2014, 84 000 new and used vehicles were sold in Guatemala, Costa Rica and Nicaragua alone, and it is expected that 2015 will close with an annual growth of nearly 10% across the region.
While the region has generally shown an upward trend in the marketing of vehicles, mainly new ones, the characteristics of each of the countries, particularly with regard to access to bank credit, makes the behavior of the auto market different in each.
Between January and December 2014 the number fell by nearly one thousand for used cars in comparison with the figures of 2013, in a market where 80 importing companies are operating.
Since 2010 the downward trend in imports and subsequent sale of used vehicles in the country has been widening. Greater ease of access to bank credit and lower prices for new cars is causing a decrease in the business of selling used cars.
From January to May 22,408 new vehicles were sold in the country, 3000 more than in the same period in 2012.
Prensa.com reports that "although 2013 began with a 3% drop in vehicle sales, which was due to an increase in spending generated by the year-end holidays, and therefore a reduced availability of money, subsequent months have shown gradual increases. "
The growth in the last three years is mainly due to easier credit by local banks and the economic growth that the country has been experiencing.
Data from the Transit and Transportation Authority (ATTT) reveals that in 2010 there were 550,000 cars circulating in Panama, while so far in 2013 the number has increased to 900,000, ie, in just three years over 350 thousand automobiles have been added to Panama's roads.
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.