Honda Center, a service shop located in Guatemala City's Zone 10, has a potential market of 93 thousand consumers between the ages of 25 and 60 years old, of which 66% are interested in vehicle-related topics, within a 15-minute drive.
Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Business Intelligence team analyzed the environment of some of the main automotive repair shop locations operating in Central American countries. Below is an excerpt of the study's findings.
Between July and October 2020, the number of people in Panama looking for vehicle transmission repair services online increased by 71%, and the number of Salvadoran consumers who explored options for auto glass repair increased by 60%.
CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchase patterns.
In the first quarter of 2020, the region imported vehicle parts and spare parts for an amount of approximately $267 million, 7% less than that recorded in the same period of 2019, a decrease that is mainly explained by the behavior of purchases by Panamanian companies.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
During May and June in most markets of the region the interest of consumers in vehicle maintenance services has rebounded, and currently it is estimated that in Central America about 250 thousand people are looking to hire services associated with the subject through the Internet.
Through a system developed by CentralAmericaData, which monitors in real time changes in the number of consumers trying to purchase a specific product or service in Central American countries, their interests and preferences, it is possible to project short and long term demand trends for different products, sectors and markets operating in the region.
The sharp drop expected in the income of centers dedicated to providing general mechanical services for cars and trucks in Central America will be mainly explained by the drop in demand from end consumers and bus rental companies.
The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, taking into consideration various scenarios for the coming months.
Providing in-home maintenance service, enabling more service centers in strategic locations and providing payment facilities to customers are part of the changes being implemented by vehicle agencies to increase their revenue.
The maintenance service through mobile service stations is one of the trends that is taking hold in Costa Rica, as the country's road conditions make it increasingly difficult for customers to move their vehicles to a service station.
In the region there are about 15,000 lubrication centers, spare parts stores and auto mechanics workshops, and about 65% of the stores are in Costa Rica, Guatemala and Panama.
An analysis compiled by the Trade Intelligence area at CentralAmericaData provides interesting results on where and who are the stores that provide services related to the automotive sector in Central America.
The countries of the region imported batteries for vehicles for $50 million in the first quarter of 2018, and 60% was purchased by companies in Guatemala, Costa Rica and Panama.
Figures from the information system on the Market for Electric Lead Accumulators to Start Piston Engines in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In 2016, the region imported close to $1.043 billion worth of spare and replacement parts for vehicles, 8% more than what was purchased in 2015.
Figures from the information system 'Market for Spare Parts for Vehicles in Central America', prepared by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
Between January and September 2016 the Central American countries imported a monthly average of $11 million worth of new tires for light vehicles.
Figures from the information system on the tire market in Central America complied by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with graphics"]
Between September 26 and 28 a delegation of manufacturers and distributors of auto parts from the United States will be visiting Honduras and Nicaragua in order to explore business opportunities.
The trade missions are being organized by the US Autocare Association, a union of more than 500,000 automotive repair shops, auto parts and spare parts manufacturers and distributors.
From March 3 to 5 automotive companies in Guatemala and the region will be exhibiting their products and exploring business opportunities in the Motor Expo trade show.
The event will be held in Parque de la Industria from March 3 to 5 and is expected to include the participation of more than 1,000 business representatives.There will be product displays, networking activities for participating companies and training workshops.
The Municipality of the Central District is putting out to tender construction of a yard area for parking and maintenance of buses in the BTR system.
The Municipality of the Central District (CDMA), is inviting eligible bidders to submit sealed bids for the construction of a yard for parking and workshop for maintenance of buses in the BRT system in an area measuring 12,550 square meters located between the second and third entrance of the John F. Kennedy colony in Tegucigalpa.
Codaca Group, distributor of Hino brand trucks, made the investment for the upgrade of its facilities in San Pedro Sula.
The group's executive chairman, Manuel Siekavizza said during the opening ceremony for the new works, that they have increased their workforce to 140 people.
"In Honduras the company has its second largest operation out of all the markets it serves.
Investing in and maintaining an in-company workshop is expensive, but when the fleet size is large, the reduction in maintenance and repair costs can justify it.
This is the experience of Coca Cola Femsa in Costa Rica, which is performing preventive and corrective maintenance, and technical reviews of the 450 vehicles in its fleet in its own automotive workshop.