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.
Following the downward trend that has been observed for several months, 12,617 units were registered in the first quarter, 11% less than was reported in the same period in 2017.
Figures from the Comptroller General of the Republic show that in the first quarter of 2018, 4,548 new vehicles were registered, 22% less than the 5,790 units registered in the same month in 2017.
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.
In the last year, the companies Ambacar, from Ecuador, Inchcape, from England, and Euro Advance, linked to Grupo Cofiño, from Guatemala, entered the market through the purchase, partial or total, of local distribution agencies.
In September, registrations of new vehicles showed a 13% decrease compared to the same month in 2016, mainly explained by a 20% drop in the sale of automobiles.
Figures from the Comptroller General of the Republic show that between January and September, 4,301 new vehicles were registered, 13% less than the 5,083 units registered in the same period in 2016.
The business sector estimates that if the trend observed in the first semester is mantained, by the end of the year the overall sales will be 3,000 units below the sales of 2016.
The Superior Council of Private Enterprise (Cosep) estimates that in the first half of the year vehicle sales were 15% lower than those in the same period in 2016.According to the Cosep, last year 20 thousand vehicles were sold.
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.
Jean Pierre Devaux, executive director of the Association of Importers and Distributors of Motor Vehicles (Aidva), commented to S21.gt that between January and March of this year"...6 thousand 894 new units have been sold."
The union of vehicle dealers reported that the brands Toyota, Hyundai and Kia led sales in the country, with 35,000 units sold in 2016.
Figures from the Association of Automobile Dealers in Panama (ADAP) indicate that these three brands are the most commonly traded in the country. Capital.com.pa indicates that the Toyota brand"... leads the list with 42,249 vehicles sold in the last three years. In 2014 14,223 cars were sold and although in 2015 there was a drop in sales (13,642) they rebounded in 2016 and 14,384 cars were sold."