After in 2020 in the Salvadoran market the marketing of vehicles classified as luxury decreased 20%, brands such as BMW expect that 2021 will be better, since its local sales in the first two months of the year started off well by increasing 8% year-on-year.
During last year, 220 premium segment vehicles were sold in El Salvador, 47% of the total number of units sold corresponds to the BMW brand.
During the first seven months of the year, 26,188 vehicles were imported to El Salvador, of which 18% were new units and 82% were used. Second-hand cars are still in demand in this new business scenario.
According to representatives of the Association of Vehicle and Automotive Parts Importers (Asiversa), the demand for used vehicles has been maintained in this context of economic crisis, but sales have fallen due to the drop in prices.
Making alliances with factories, applying distance protocols at points of service and encouraging the use of digital platforms are some of the strategies that have begun to be implemented by new vehicle distributors in the region.
Managers of Grupo Q, a company that operates 40 salesrooms in Central America, explained that given the spread of covid-19 and the restriction of consumer mobility, they are working to deepen alliances with factories and achieve a comprehensive chain of savings in different areas.
In December 2016, 20% of the vehicles circulating in the countries of the region were between 1 and 5 years old, and 19% between 6 and 10 years old.
Data from the report"Vehicle Fleet in Central America 2016" compiled by the Business Intelligence Unit at CentralAmericaDatashows the different characteristics of the vehicles circulating in Central American countries.
The government is assessing reducing from 8-7 the maximum number of years of age of vehicles which can be imported.
The aim of the Sanchez Ceren administration is to reduce the size of the vehicle fleet which is registered today in El Salvador.Figures from the Business Intelligence Unit at CentralAmericaData com at the end of 2015 show that 936.700 vehicles were registered in circulation.
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In 2014, 84 000 new and used vehicles were sold in Guatemala, Costa Rica and Nicaragua alone, and it is expected that 2015 will close with an annual growth of nearly 10% across the region.
While the region has generally shown an upward trend in the marketing of vehicles, mainly new ones, the characteristics of each of the countries, particularly with regard to access to bank credit, makes the behavior of the auto market different in each.
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