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.
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.
In 2016 the imported value of spare parts for vehicles totaled $37 million, 9% more than the imports recorded in 2015.
Figures from the information system on the Auto Parts and Accessories Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData
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 2015 the import of new cars grew by 25%, led by sales of compact cars, and driven by an increase in purchasing power and greater access to credit on the part of Nicaraguans.
Between January and October 2015, Nicaragua imported 14,765 new motor cars, up from 11,860 in the same period in 2014, which represents growth of 25%, according to the Directorate General of Customs (DGA) of Nicaragua.
Up until September 2015 imports of ground vehicles, tires and lubricants amounted to $450 million.
The Nicaraguan Association of Motor Vehicle Distributors (Andiva) confirmed that record high sales have been reached, with 19,000 units sold in 2015, 25% more than in the previous year. Its projected sales figure for that period was $300 million.
42% of the 8400 vehicles that entered the country in the first half of the year were sedans, followed by pick-up trucks, which accounted for 28%.
Vehicle imports in the first half of the year increased by 22% over the same period of 2014, when 6892 units came into the country, according to figures from the Nicaraguan Association of Motor Vehicle Distributors (Andiva).
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.
In Nicaragua economic improvement has also translated into more sales of new and used cars, which grew by 25% and 6.4% respectively compared to 2011.
$300 million in imported vehicle sales was reported by the Directorate General of Customs up to September 2012.
Meanwhile, the Nicaraguan Association of Motor Vehicle Dealers, Andiva, reported that last year about 12,200 new vehicles were sold. The increase was 25%.
The year 2012 closed with about 13 000 new cars having been sold, 25% more than in 2011.
Laprensa.com.ni reports that "The sale of new cars reached a new record in Nicaragua. Up to 31st October 11.163 car sales were reported, according to the Nicaraguan Association of Motor Vehicle Dealers (Andiva ). This is superior to anything sold in 2011, and even exceeds the sales of the best year on record: 2008 when 10.545 units were sold.
Authorities plan to remove the selective consumption tax and customs duty on importation of hybrid vehicles, and to limit imports of used cars.
If approved these measures will revitalize the auto market with the use of modern environmentally friendly technologies, which will mean more investment in suitable workshops and trained personnel for their maintenance.
In the past only durable and high priced goods like cars and houses were re-sold. Now re-selling (and buying second-hand) applies to everything from electronics to clothing.
Knowing the value of something that has been bought and used for some time used to be very difficult, but now facilities to check markets make it possible to establish the value of what we want to sell second-hand (RECOMMERCE).