Between January and October this year more than 1,300 high-end vehicles were sold, equivalent to 5% of new car sales in the same period.
According to the Association of Importers and Distributors of Motor Vehicles, the bestselling luxury car brands up until October of this year were: Audi, with 382 units, BMW, with 340 units sold, Land Rover with 127 units and finally Porsche with 104 cars.
The sustained growth of the Panamanian economy is boosting luxury car consumption, championed by high-end cars.
The increase in sales of vehicles in 2013 in the luxury segment is expected to be repeated in 2014, according to representatives of the brands. The union of distributors also expects an increase, although it is more cautious.
Roberto Duran, CEO of Consúltenos, an Audi car dealership said: "We think that this year growth in our segment should be above 10%."
During 2013 the import of used vehicles in Costa Rica declined by 45%, the biggest drop since the 2009 crisis.
Importing used cars has ceased to be a business in Costa Rica. Last year the entry of used vehicles into the country declined by 45%, the strongest decline since the 2009 crisis.
Credit facilities provided by banks and the "new rules for the import sector in relation to the tax value of the units, odometers (mileage meter), total losses and new security devices have all affected sales."
The business anticipates opening a new agency to assist clients in September.
The manager of sales, Jorge Vallendor, announced that next month they will present the 5-passenger Audi Q5 vehicle.
Roxana Larios writes in an article in Sigloxxi.com: "Starting this month, Group Cofiño Stahl will market Audi cars after the acquisition of Regesa, which is part of Continental Motors," reports the general manager of the Group, José Javier Casas.
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