For the third quarter of 2021 a slow recovery of the automotive sector is seen, reaching purchases in the Central American region for $451 million, with China being the main supplier, with 27% of the market.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
Predictive maintenance based on big data and geospatial data seeks to define the best time to perform work on an asset, so that maintenance frequency is as low as possible and reliability is as high as possible without unnecessary costs.
Maintenance teams are beginning to embrace the use of big data and predictive modeling to improve performance, which helps establish maintenance programs that reduce downtime and save maintenance costs, while extending the life of their equipment, reducing unnecessary tasks and optimizing spare parts inventory.
After vehicle sellers in Guatemala in 2020 faced a complex panorama as a result of the crisis caused by the pandemic, during the first quarter of the year a 30% y-o-y increase in the number of new imported units was reported.
Statistics from the Superintendence of Tax Administration (SAT) detail that in the first three months of 2021, close to 9,300 new vehicles were imported in the country, a figure that exceeds by 30% what was reported in the same period of 2020.
Accurately calculating the vehicle fleet or estimating the number of specialized machines and tractors used in certain areas is useful information for companies dedicated to the sale of accessories and spare parts to make the right decisions.
In order to minimize the risk of starting to commercialize spare parts and accessories that use specialized machines, tractors or vehicles, or simply to calculate potential sales in certain areas, countries or regions, companies rely on market studies that in some cases are elaborated with Big Data techniques.
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.
From January to September 2020, Central American imports of vehicle batteries totaled $155 million, and purchases from Korean companies increased 27% compared to the same period in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
In the first half of 2020, imports of vehicle batteries in El Salvador, Nicaragua and Guatemala increased in year-on-year terms, and in Honduras, Costa Rica and Panama there were decreases.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"].
During the last months of 2020 in the region's markets, the number of Internet searches and conversations associated with motorcycles decreased, a decrease that can be explained by the behavior of most countries.
Through a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
From January to June 2020, companies in the region bought new tires abroad for $197 million, with Costa Rica being the only market that increased its imports and Panama the Central American country that reduced its purchases the most in year-on-year terms.
Figures from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
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"]
In the first quarter of the year, Central American countries imported vehicle batteries for $57 million, and 57% was purchased by companies in Guatemala and Costa Rica.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
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.
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