The region imported vehicle parts and spare parts for about $270 million in the first three months of the year, and 65% was purchased by companies in Guatemala, Costa Rica and Panama.
Figures from the Central American Vehicle Parts Market information system from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In 2017, the regional spare parts and auto parts market registered a 5% compared to the same period in 2016, motorcycles numbers remain unchanged, and imports of new tires went down 4%.
Data from the interactive report "Automotive market in Central America" compiled by the Business Intelligence Unit at CentralAmericaData.
In 2017 imports of vehicle parts in Guatemala totaled approximately $306 million, which represents an increase of 4% compared to the previous year.
Figures from the information system on the Market for Spare Parts for Vehicles in Guatemala, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA Caption = "Click to interact with graph"]
Sales projections for this year are not the best, but the decision of three foreign companies to enter the Costa Rican automotive market shows that there is still potential to grow more.
Grupo Q, Cofiño Stahl, Continental Motores, International de Guatemala and Changhe Motors have presented their proposals to sell 3,000 vehicles to the Guatemalan government.
In the tender launched by the Ministry of the Interior to supply 1,500 motorcycles, 1,300 pick-up trucks, 150 cars and 63 other vehicles, four companies took part, with the following proposals:
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.
Of the total number of vehicles circulating in the country in December 2016, 35% were automobiles, 31% motorcycles, 22% light-duty vehicles and 7% heavy load vehicles.
Figures from the report "Central American Vehicle Park", prepared by CentralAmericaData's Business Intelligence Unit, show that as of December 2016, 2.2 million vehicles were circulating in Guatemala, of which more than half were automobiles and motorcycles.
The distributors' association reports a reduction of almost 4% in new vehicle sales for the first quarter of the year compared to the same period in 2016.
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