In Panama, social distancing measures have been applied and vehicle repair shops are allowed to have only 10 employees, which makes the provision of most services unfeasible.
For the Association of Car Dealers (ADAP), the decision of the Panamanian authorities to approve the reopening of vehicle workshops is positive; however, the restrictions applied in the context of the covid-19 outbreak complicate their operation.
Focusing on increasing income from after-sales services and making alliances with banks to offer better financing conditions are some of the strategies that car dealers in Panama intend to implement in this new reality.
Representatives of Ricardo Perez S.A., a Toyota brand distributor in the country, believe that because the purchase of a vehicle represents the second most important financial transaction in a family, the automotive sector will be seriously affected in this context of the spread of covid-19.
During 2019 and the first month of 2020 in Nicaragua, light vehicle distributors reported that their income improved compared to 2018, however, in February and March of this year sales fell again, due to the crisis caused by covid-19.
In 2018 a political and economic crisis occurred in the country, which impacted the sales of the automotive sector, since for that year on average 200 new units of light vehicles were sold per month.
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.
As a result of the emergency that Costa Rica is going through due to the spread of the coronavirus, Bridgestone announced that it will temporarily close its industrial plant located in Belen, Heredia.
The company announced that its plant will remain inactive from March 26 to April 12 and that none of the 1,000 employees working on the premises will be dismissed.
Retail sales in the automotive sector in Central America are predicted to be significantly affected by the covid-19 crisis, which would be partially explained by the drop in tire sales.
As of September 2019, imports of vehicle parts into the Costa Rican market totaled approximately $46 million, and purchases from U.S. companies increased 5% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
As of September 2019, imports of vehicle parts into the Panamanian market totaled approximately $184 million, and purchases from Mexican companies increased 17% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
The business group Excel Automotriz opened a new service center of 7,600 square meters, which is located in zone 10 of the country's capital.
Company representatives reported that the facility has exhibition space, offices, workshop, sales area for new vehicles and spare parts, and a parking lot with capacity for more than 30 cars.
In the Dominican Republic, the supply of different types of vehicles to be used in the toll stations and the plan for road protection and assistance on the roads is being tendered.
Between January and September 2019, imports of vehicle parts into the country totaled nearly $240 million, and 34% were purchased from companies in China and Japan.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
From January to September 2019, imports of spare parts and vehicle parts in Nicaragua totaled nearly $41 million, 15% less than in the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
From January to November 2019, Central American countries imported $72 million in car batteries from Mexico, 2% more than what was purchased in the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
In the first half of last year, imports of vehicle parts in Honduras totaled nearly $76 million, representing a decrease of 2% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
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