Moderators Moderator_02 Posted September 6, 2019 Moderators Share Posted September 6, 2019 Quote Vehicles: Is the Sales Trend Reversed? Although the downward trend in new vehicle sales continues in Panama, the declines in the number of units marketed reported in recent months compared to the same periods in 2018 are decreasing. Wednesday, September 4, 2019 In line with the downward behavior of recent years, between January and May 2019 19,819 vehicles were registered in the country, 9% less than in the same period in 2018, and for the period from January to June it was reported that the year-on-year fall was 8%. According to the most recent figures of the General Comptroller's Office of the Republic the falls are lower, because from January to July 2019 27,484 vehicles were registered, an amount that is 5% lower than that recorded in the first seven months of 2018. You may be interested in "Automotive business in Central America” When reviewing the quantities of vehicles sold per month, the report states that only in May was reported a variation from the same month of 2018 of -12%, in June the indicator was -3% and in July was recorded a 15% increase. Also see "Car Brands: Figures at the Beginning of 2019” Economist Olmedo Estrada told Panamaamerica.com.pa that the behavior "... has a lot to do with optimism in consumers. Yet, despite the fact that only two months have gone by since the new government, there is no such generalized optimism that we see a rebound in activities, but something has improved the economy." Estrada added that "... these figures indicate that for the coming months these numbers will vary substantially and by the end of the year they could have positive figures, since the same economic environment is optimistic and that is what allows investments in economic activities to take place." See Comptroller's Office report. https://www.centralamericadata.com/en/article/main/Vehicles_Is_the_Sales_Trend_Reversed Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 25, 2019 Moderators Share Posted September 25, 2019 Quote New car sales continue downward for third year Toyota the best selling brand Posted 24/09/2019 New car sales in Panama continue to slide with a 5.6% drop to 31,498 in the first 8 months of the year says the Automobile Dealers Asssocuation (ADAP). The Comptroller General reports that in 2018 and 2017 there were decreases of 10.6% and 14.7%. Gustavo De Luca, president of ADAP, said in a press release that despite the decrease in sales, compared to the same period last year, there is a change in consumer confidence so: "We view next year with optimism." Car sales have registered a decline in recent years as a result of the economic downturn in the country, although this was one of the most flourishing activities. As of August this year, the compact SUV and small SUV, was the segment with the best sales record, with a total of 5,115 and 4,968 units, respectively. The Toyota Hilux was the best selling model in the first eight monts with 1,852 units, followed by the Hyundai Accent, with 1,826, and the Kia Rio, with 1,412 units. Toyota, with 6,250 units, was the best selling brand followed by Hyundai, with 5,487; Kia, with 3,746; Nissan, with 3,675 and Suzuki, with 2,552. https://www.newsroompanama.com/business/new-car-sales-continue-downward-for-third-year Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 10, 2019 Moderators Share Posted October 10, 2019 Quote Vehicles: Sales Keep Declining In Panama, the decreasing behavior of reported sales continues, since between January and August of this year 31,498 vehicles were registered in the country, 6% less than in the same period of 2018. Tuesday, October 8, 2019 According to the latest report of the General Comptroller of the Republic, between the first eight months of 2018 and the same period of 2019, the number of units registered in the country fell from 33,349 to 31,498. You may be interested in "Automotive business in Central America” From January to August 2019, sales of regular cars reported a decrease over the same period in 2018, falling from 11,789 to 10,983 units, and Pick Ups sales recorded a decrease of 8%, falling from 5,100 to 4,699 units. Also see "Car Brands: Figures at the Beginning of 2019” On the other hand, trucks also recorded a decrease for the months in question, falling from 1,065 to 876 units, representing an 18% decrease. See Comptroller's Office statistics. https://www.centralamericadata.com/en/article/main/Vehicles_Sales_Keep_Declining Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted November 6, 2019 Moderators Share Posted November 6, 2019 Quote Luxury Cars: Sales Up 6%. The number of luxury vehicles marketed during September in Panama increased by 6% compared to the same month in 2018, a rise that contrasts with the fall in vehicle sales overall. Monday, November 4, 2019 According to the report of the General Comptroller of the Republic, between the first nine months of 2018 and the same period of 2019, the number of units registered in the country fell from 37,084 to 34,906. You may be interested in "Automotive business in Central America" From January to September 2019, sales of regular cars reported a decrease over the same period in 2018, falling from 12,962 to 12,158 units, and Pick Ups sales recorded a 10% decrease, falling from 5,754 to 5,175 units. Also see "Car Brands: Figures at the Beginning of 2019" Trucks also recorded a decrease for the months in question from 1,158 to 1,007 units, representing a 13% decrease. In the case of luxury cars, between January and September 2019, 1,882 units were sold, 2% more than the same period in 2018. See Comptroller's Office statistics. https://www.centralamericadata.com/en/article/main/Luxury_Cars_Sales_Up_6 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted January 16, 2020 Moderators Share Posted January 16, 2020 Quote Automotive: Another Year in the Red According to the reported decrease in new car sales in 2017 and 2018 in Panama, during 2019 the negative trend continued, as 47,866 units were registered, 6% less than the previous year. Wednesday, January 15, 2020 Reports from the General Comptroller's Office of the Republic explain that since 2017 there has been a drop in new vehicle sales, since 56,905 units were sold that year, 15% less than cars sold in 2016. You may be interested in "Automotive business in Central America" In 2018, the bad streak continued with 50,889 new vehicles registered, a figure 11% lower than that reported in 2017. The downward trend has extended to 2019, as the sale of 47,866 units was reported, the year-on-year drop was 6%, according to figures from the Association of Automobile Distributors of Panama (ADAP). Also see "Car Brands: Figures at the Beginning of 2019" Gustavo De Luca, president of ADAP, explained to Panamaamerica.com.pa that "... the downward trend is beginning to normalize and is already bottoming out." The article adds that "... The automotive industry has a great value for the Panamanian economy, it generates around 2 billion dollars in transactions per year, representing approximately 3% of the country's GDP." Source: Panamaamerica.com.pa https://www.centralamericadata.com/en/article/main/Automotive_Another_Year_in_the_Red Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted February 25, 2020 Moderators Share Posted February 25, 2020 Quote Vehicle Sales: What are the New Challenges? Because the transportation services provided by platforms like Uber cause people to increasingly question whether or not they need to buy a vehicle, vehicle dealers must face new challenges to keep up with sales. Friday, February 21, 2020 In Panama, official figures show that according to the reported decrease in new vehicle sales in 2017 and 2018, during 2019 the negative trend continued, as 47,866 units were registered, 6% less than the previous year. One of the first assumptions is that the decrease in the number of units sold is because of the slowdown in the Panamanian economy; however, distributors have identified other factors that have affected sales. You may be interested in "Automotive business in Central America" Jorge Batinovich, CEO of Distribuidora David, told Martesfinanciero.com that "... 'to return to the sales volume of a few years ago is unsustainable for a market like Panama. We are living a process in which people are reflecting on how long they can live without a car, because of platforms like Uber or the taxis themselves that have raised their standard of service." See "Electric Cars: Who Are the Potential Buyers?" Batinovich added that "... users in their 20s and 30s do not want the responsibility of driving a car, because of the intrinsic wear and tear of this activity, and prefer to avoid the fatigue of driving in a city with complex vehicular traffic. Such metamorphosis leaves aside, for now, hybrid and electric cars." According to the director, the Panama Metro is a complementary service to transport offered through mobile applications, which causes it to become a direct competitor in the future. Source: martesfinanciero.com https://www.centralamericadata.com/en/article/main/Vehicle_Sales_What_are_the_New_Challenges Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted March 7, 2020 Moderators Share Posted March 7, 2020 Quote Vehicles: Sales Start to Rise in 2020 During the first month of the year, 3,487 luxury vehicles were sold in Panama, a figure 5% higher than that reported for the same period in 2019. Wednesday, March 4, 2020 According to the most recent report of the General Comptroller of the Republic, between January 2019 and the same period in 2020, in general the number of units registered in the country increased from 3,324 to 3,487. You may be interested in "Automotive Business in Central America" During the first month of the year, sales of regular cars reported a rise over the same period in 2018, from 1,310 to 1,348 units, in the case of Pick Ups sales recorded a 14% variation, increasing from 398 to 454 units. Also see "Cars and Motorcycles: Market share in the region" On the other hand, luxury cars also registered a rise for the months in question, from 169 to 184 units, which represents a 9% increase. In the case of SUVs, units sold rose from 1,233 to 2,258. See Comptroller's Office statistics (in Spanish). https://www.centralamericadata.com/en/article/main/Vehicles_Sales_Start_to_Rise_in_2020 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted April 20, 2020 Moderators Share Posted April 20, 2020 Quote Vehicles: Sales Would Fall 50% This Year Due to the crisis generated by the Covid-19, car dealers in Panama estimate that during 2020 the number of units sold could fall by almost 50% compared to the figure reported in 2019. Thursday, April 16, 2020 If businessmen's forecasts are true, the negative trend of recent years would continue, since during 2019 47,866 units were registered in the country, 6% less than in the previous year. See "Vehicle Repair: Business Outlook" According to forecasts by the Association of Automobile Distributors of Panama (ADAP), between 2019 and 2020 the number of vehicles sold will fall from 47,866 to 25,000, a drop that is attributed to the economic crisis generated by the outbreak of covid-19.Gustavo De Luca, president of ADAP, told Panamaamerica.com.pa that because of the current health crisis "... About $100 million in transactions that have been stopped between March and April 2020'. In 2019 there were 47,000 and this year because of the coronavirus the market will close on the sale of 24 to 25,000 cars." De Luca added that "... In the first two months of 2020, sales had already begun with a 9.5% reduction. Now, taking into account that in March we only worked half of it and April probably closed the whole month, and May we assume that much of it will not work, the panorama is complicated for this sector." https://www.centralamericadata.com/en/article/main/Vehicles_Sales_Would_Fall_50_This_Year Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted April 24, 2020 Moderators Share Posted April 24, 2020 Quote Vehicles: Post Quarantine Sales Outlook As the economies of Central America begin to relax the restrictions that have been taken to prevent the spread of covid-19, sales of pickup trucks are predicted to be among the most contracted. Wednesday, April 22, 2020 Using a demand-income sensitivity model developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project the variations that household demand for different goods and services will undergo as the most critical phases of the spread of covid-19 pass and mobility restriction measures are lifted in the countries of the region. For this analysis, it is assumed that quarantine and mobility restriction measures will be extended for three months. When analyzing vehicle marketing forecasts, the interactive information system specifies that sales of car-type units would be among the most affected, as the contraction would amount to about 45%. Compared to the sales levels recorded prior to the covid-19 crisis, sales of conventional and electric motorcycles will also register a decline, but in this case it would be minimal. The "Information System: Covid-19 and Business Forecasts" is helping our clients to understand the new commercial reality of the demand for goods and services from companies in all sectors, with details such as the financial strength of clients and suppliers of each economic activity, which allows us to forecast which of them could face more difficulties in the coming months. https://www.centralamericadata.com/en/article/main/Vehicles_Post_Quarantine_Sales_Outlook Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 19, 2020 Moderators Share Posted May 19, 2020 Quote Trends: What Types of Vehicles are Gaining Market Share? So far this year in the Central American markets, the interest in vehicles for cargo transport reported a clear upturn, with Guatemala, El Salvador and Panama being the countries that registered the greatest increases in interactions associated with the topic. Friday, May 15, 2020 Through a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project short and long term demand trends for different products, sectors and markets operating in the region. The figures for the Salvadoran market indicate that in the long-term trend, the issue of cargo trucks has reported a sustained increase since mid-March 2020. The information system details that as of April 19 the short-term trend of consumer interactions associated with the issue, shows a slowdown in the growth of interest, which is maintained until today. The case of Panama is similar to that of El Salvador, as since February 2020, the increase in interest in cargo trucks has been reflected in the long-term trend, and in the case of the short-term trend, this has picked up since mid-March 2020. In Guatemala, the long-term trend shows that consumers have kept up their interest over the last few weeks. The short term trend points out that from March 22, is when the interactions associated with the cargo trucks rebounded. The short-term trend details that in recent weeks in Costa Rica and Honduras there has been an increase in interest in cargo vehicles. In the case of Nicaragua, the short-term trend does not show a marked behavior. https://www.centralamericadata.com/en/article/main/Trends_What_Types_of_Vehicles_are_Gaining_Market_Share Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 23, 2020 Moderators Share Posted May 23, 2020 Quote Vehicles: New Reality, New Strategies 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. Wednesday, May 20, 2020 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. You may be interested in "Vehicles: Post Quarantine Sales Outlook" and "Trends: What Types of Vehicles Are Gaining Market Share?" Javier Diaz, Ricardo Pérez's general manager, explained to Prensa.com that one of the pillars of the strategy they will implement as a company is to collect customers' concerns about new products or services they may need, and from there, to boost sales in that direction. Also see "Vehicle Repair: Business Outlook" Regarding new vehicle sales, Diaz said that plans include the implementation of a joint strategy with banks, to give more flexible credit to customers who make purchases in the coming months. Reports from CentralAmericaData detail that so far in 2020 in Central American markets interest in vehicles for cargo transport reported a clear rebound, with Guatemala, El Salvador and Panama, the countries that recorded the largest increases in interactions associated with the subject. Source: Prensa.com https://www.centralamericadata.com/en/article/main/Vehicles_New_Reality_New_Strategies Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 25, 2020 Moderators Share Posted May 25, 2020 Quote New car sales set to plunge 63% and service stymied Posted 24/05/2020 New car sales in Panama could plunge 63% to 17,000 units on the street, representing a decrease compared to those sold last year, according to industry projections. “With the pandemic we project a significant reduction in general sales for this year. The projection is that between 16,500 and 17,000 new cars will be sold. Last year there were 47,000 units, ”said Gustavo De Luca, president of the Panama Association of Automobile (ADAP). The union spokesperson said that the health and economic crisis generated by Covid-19 came at a time when the sector had been cooling for three years. and the paralysis of sales, but also due to the suspension of its workers. "The members of the ADAP union import only new cars that are 95% of the cars sold in the country-, we estimate that we have 5,000 direct jobs, of those 85% (4,250 ) have suspended contracts) " He described as positive the decision of the Ministry of Health and the Ministry of Commerce and Industries to authorize the reopening of the workshops on May 13, but considers that “the established limitation of 10 employees per workshop or branch makes the provision of services for the majority, unfeasible”. "Limiting to 10 people regardless of the size of the workshop hinders the ability to offer the service and keep the supply chain running smoothly." He says that in the last week there was a lot of demand, but also limitations to serve everyone due to lack of personnel. Right now we are working at 20% capacity, however, we seek to reach 50%, maintaining hygiene and safety measures within each workshop. https://www.newsroompanama.com/business/new-car-sales-set-to-plunge-63-and-service-stymied-1 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 27, 2020 Moderators Share Posted June 27, 2020 Quote Vehicles: Urgent Opening of Sales Channels In Panama, the distributors' union is asking the government to open up sales channels, which is included in the third block of the return to normal scheme, whose start date has not yet been defined. Thursday, June 25, 2020 Vehicle sales in the Panamanian market are going through their worst moment. According to the latest report of the General Comptroller of the Republic, in the context of the quarantine decreed by the covid-19, during the fourth month of the year was reported the sale of only 117 vehicles, 97% less than that recorded in the same period of 2019. See "Vehicles: Prices, Trends and Potential Market" Press.com reviews that "... The Association of Automobile Distributors of Panama (ADAP) requested the Government to open the sales channels in order to leave about 20 thousand units in inventory, as well as to define an action plan to avoid job losses." You may be interested in "Trends: What Types of Vehicles are Gaining Market Share?" The article adds that "... For ADAP's board of directors, 'the urgency of the reopening' is a response to the most worrisome challenges facing the automotive industry, including the fact that millions of dollars are not being sold every month. We have been on hold for more than three months and every month we stop selling approximately $140 million that could help the country's economy." Regarding the trends in the Panamanian market, CentralAmericaData reports that since February 2020, the increase in interest in cargo trucks has been reflected in the long-term trend, and in the case of the short-term trend, this has picked up since mid-March 2020. Source: Prensa.com https://www.centralamericadata.com/en/article/main/Vehicles_Urgent_Opening_of_Sales_Channels Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted July 3, 2020 Moderators Share Posted July 3, 2020 Quote Vehicles in Panama: Sales Almost Zero During May 2020, only 96 vehicles were reported for sale in the Panamanian market, 98% less than the same period in 2019. Wednesday, July 1, 2020 The General Comptroller of the Republic reported that in the context of restrictions to economic activity by the outbreak of covid-19 sales have fallen considerably, since between May 2019 and the same month of 2020, the number of new units registered in the country decreased from 4,048 to 96. See "Vehicles: Prices, Trends and Potential Market" From January to May 2020, sales of regular cars reported a 52% decrease over the same period in 2019, falling from 6,843 to 3,304 units, and sales of Pick Ups recorded a 55% decrease, falling from 3,141 to 1,418 units. You may be interested in "Trends: What Types of Vehicles Are Gaining Market Share?" On the other hand, trucks also registered a decrease for the months in question by dropping from 478 to 235 units, which represents a 24% decrease. See statistics from the Comptroller's Office (in Spanish). https://www.centralamericadata.com/en/article/main/Vehicles_in_Panama_Sales_Almost_Zero Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted November 8, 2020 Moderators Share Posted November 8, 2020 Quote Cars in Panama: Sales Keep Improving After reporting the sale of only 96 vehicles in May, due to the quarantine decreed by the covid-19 outbreak, in July the figure rose to 1,112, in August to 1,398 and in September to 2,403 units. Thursday, November 5, 2020 The General Comptroller of the Republic has been reporting that in the context of restrictions to commercial activity due to the health emergency, sales have fallen considerably, since between September 2019 and the same month in 2020, the number of new units registered in the country decreased by 29%, from 3,408 to 2,403. See "Vehicles: Sales Potential by Brand" From January to September 2020, sales of regular automobiles reported a 58% decrease compared to the same period in 2019, falling from 12,158 to 5,036 units, and sales of Pick Ups registered a 52% decrease, falling from 5,175 to 2,481 units. You may be interested in "Vehicles: Prices, Trends and Potential Market"Trucks also registered a decrease for the months in question, falling from 1,006 to 465 units, which represents a 56% decrease. See statistics from the Comptroller's Office. https://www.centralamericadata.com/en/article/main/Cars_in_Panama_Sales_Keep_Improving Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted January 28, 2021 Moderators Share Posted January 28, 2021 Quote New car sales predicted to rise 25% in 2021 Anthony Salerno Posted 27/01/2021 New car sales are expected to grow 25% to 30,000 this year according to the incoming president of the Automobile Dealers of Panama (ADAP), Anthony Salerno. During the inauguration, in a virtual activity, Salerno was sworn in by the outgoing president Gustavo De Luca and acknowledged that 2020 was a difficult year due to ther pandemic. In 2020, 24,091 new vehicles were registered, according to ADAP, a figure that is equivalent to practically half (49.7% less) of the 47,866 new cars registered in 2019. Salerno, who is the president and CEO of Bahía Motors, said that together with the group of businessmen who will accompany him, he will provide continuity to the plans and strategies that were initiated by the outgoing president and the board of directors last year. He highlighted the support for the National Electric Mobility Strategy, which will allow a significant reduction in carbon gas emissions and continue to guarantee responsible operations in strict compliance with biosafety protocols to ensure healthy environments for employees and customers. https://www.newsroompanama.com/business/new-car-sales-predicted-to-rise-25-in-2021 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted January 30, 2021 Moderators Share Posted January 30, 2021 Quote Vehicle Sales: Optimism in Panama After a 50% year-on-year fall in new car sales in 2020, Panamanian businessmen expect a 25% increase in the number of units sold in the local market by 2021. Thursday, January 28, 2021 The covid-19 outbreak generated a health and economic crisis that severely affected the automotive industry. The most recent report of the Comptroller General of the Republic specifies that between January and November 2019 and the same period of 2020, the number of new vehicles sold in the Panamanian market decreased 54%, going from 44,101 to 20,349. Gustavo De Luca, Association of Automobile Distributors of Panama (ADAP), told Laestrella.com.pa "... the covid-19 situation has represented a great challenge for the automotive industry, of which we are still deeply resenting its negative effects. With sadness we lost around 1,000 direct jobs in the industry and suffered a 50% drop in new car sales compared to 2019." See "Vehicles: Sales Potential by Brand" After this abrupt drop in sales, businessmen in the sector expect that in 2021 the sector will start to recover. The article states that "... Although the pandemic is not yet over, to push the recovery of the economic activity of the automotive industry, for 2021 a market of 30,000 units is projected, which would represent an increase of 25% over 2020." Source: laestrella.com.pa https://www.centralamericadata.com/en/article/main/Vehicle_Sales_Optimism_in_Panama Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 6, 2021 Moderators Share Posted May 6, 2021 Quote Vehicles: Sales Rebounded in March 2021 After several months of reporting year-on-year declines in the number of vehicles sold in Panama, during the third month of the year an increase of 93% was recorded. Tuesday, May 4, 2021 The Comptroller General's Office reported that between March 2020 and the same month of 2021, the number of new units registered in the country increased 93%, going from 2,099 to 4,057.See "Vehicles: Sales Potential by Brand"From January to March 2021, sales of regular car-type vehicles reported a 22% decrease compared to the same period in 2020, dropping from 3,280 to 2,561 units, and sales of Pick Ups registered a 1% rise, going from 1,350 to 1,365 units.You may be interested in "Vehicles: Prices, Trends and Potential Market"For their part, trucks also recorded a decrease for the months in question by dropping from 209 to 199 units, representing a 5% decrease. See statistics from the Comptroller's Office. https://www.centralamericadata.com/en/article/main/Vehicles_Sales_Rebounded_in_March_2021 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 7, 2021 Moderators Share Posted May 7, 2021 Moderator comment: Does the picture in this news article seem misplaced to others like it does to me? Quote Vehicle Sales Rebound in March Posted 06/05/2021 After several months of reporting year-on-year declines in the number of vehicles sold in Panama, during the third month of the year an increase of 93% was recorded. The Comptroller General's Office reported that between March 2020 and the same month of 2021, the number of new units registered in the country increased 93%, going from 2,099 to 4,057. From January to March 2021, sales of regular car-type vehicles reported a 22% decrease compared to the same period in 2020, dropping from 3,280 to 2,561 units, and sales of Pick Ups registered a 1% rise, going from 1,350 to 1,365 units. https://www.newsroompanama.com/business/vehicle-sales-rebound-in-march Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 7, 2021 Moderators Share Posted June 7, 2021 Quote Vehicle sales up 20% in the first quarter 06/06/2021 The sale of new vehicles grew 20% during the first quarter of 2021, with 11,161 units. This is one of the few indicators with a rebound after the 2020 stoppage, within the framework of measures adopted by the Government to try to curb the spread of covid-19. This year, Panama auto dealers expect to sell 30,000vehicles, surpassing the 24 091 of last year. Among the indicators analyzed until April 31 that closed positive are the production of alcoholic beverages and the registration of companies, both with an increase of 30% https://www.newsroompanama.com/news/vehicle-sales-up-20-in-the-first-quarter Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 19, 2021 Moderators Share Posted June 19, 2021 Quote Vehicles: Sales in Panama Up 20% Between the first four-month period of 2020 and the same period of 2021, vehicle sales in the local market increased by 20%, a rise that is largely explained by the behavior of marketed units of cars and SUVs. Thursday, June 17, 2021 The Office of the General Comptroller of the Republic reported that between April 2020 and the same month of 2021, the number of new units registered in the country increased 2,634%, going from 117 to 3,199. This abnormal variation is a consequence of the crisis caused by the Covid-19 pandemic.See "Vehicles: Sales Potential by Brand"From January to April 2021, sales of regular car-type vehicles reported a 9% rise compared to the same period in 2020, going from 3,291 to 3,578 units, and sales of SUVs recorded a 34% increase, rising from 3,355 to 4,479 units.You may be interested in "Vehicles: Prices, Trends and Potential Market"For their part, trucks also recorded an increase for the months in question by rising from 217 to 280 units, representing a 29% increase.See statistics from the Comptroller's Office. https://www.centralamericadata.com/en/article/main/Vehicles_Sales_in_Panama_Up_20 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted September 6, 2021 Moderators Share Posted September 6, 2021 Quote New car sales rising but far from pre-pandemic Posted 05/09/2021 New car sales are recovering faster than the industry expected, but are a long way from pre-pandemic levels. In the month of August 24,731 units have been sold, which represents a growth of 98% compared to the the12,467 units sold in 2020, according to the figures from Panama the Association of Automobile Dealers (Adap). The strong growth is due to the fact that sales in April, May, and part of June 2020 were almost nil because dealers were not operating due to mandatory closures said Anthony Salerno, president of Adap. When the accumulated figures up to August 2021 are compared with the same period in 2019, sales reflect a decrease of 21%. The monthly average for this year is about 3,100 vehicles, down from the nearly 4,000 registered two years ago. "We are still far from pre-pandemic figures, which is understandable, but if we bet on the economic reactivation and, to a large extent, the reactivation of jobs, we can see the recovery of the sector with more optimistic lights," he said. Salerno said that the goal at the beginning of 2021 was to exceed 30,000 units, but "due to the demand perceived in recent months, we are confident of reaching a market of more than 36,000 units of new cars sold." Everything will depend, however, on the challenge facing the sector, with reduced inventory levels due to global limitations to the supply chain and logistical complications, factors that put pressure on prices, he explained. From a marketing point of view, the sector has adapted to the new requirements imposed by the pandemic and has been holding virtual fairs, in which users can find products, financing offers, and car insurance in a digital market. Salerno also referred to the role that banks play in this sector, both to finance dealer operations and to purchase vehicles from customers. "The activation of consumption and its financing will be important players in the speed of recovery of our economy," he said https://www.newsroompanama.com/business/new-car-sales-rising-but-far-from-pre-pandemic Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted October 8, 2022 Moderators Share Posted October 8, 2022 Quote SUVs lead 6.6% growth in new vehicle sales Posted 07/10/2022 In the first eight months of the year, 26,370 vehicle units were sold, leaving a positive balance of 6.6% against the accumulated figure for the same period last year, according to the Comptroller General. Bogdan Batinovich, president of the Association of Car Dealers of Panama (Adap), said that the fall registered in July was the product of the closure of roads and the Inter-American highway, which caused a shortage of vehicles and spare parts in some parts of the country, with greater affectations in the central provinces and Chiriquí. Of the total sales up to the month of August, 48% were SUVs (sports utility vehicles). Compared to sales reported in the first 8 months of 2021, this year they have increased by 24.8%. Other varieties that registered a positive balance until August were minivans with an increase of 10%; buses, 62%; and trucks, 18.4%. Demand for regular or sedan-type models has fallen 11% between January and August, while the sale of panels and pickups closed August with a decrease of 1.8% and 7.1%, respectively. For this year it had been projected that sales of new cars would reach 45,000 units, but the protests in July, added to problems in production worldwide due to shortages of microchips and semiconductors, it is expected that 2022 will close with a volume of 41,000 vehicles sold, exceeding the 38,141 of 2021, but still far from the 47,866 reported in 2019. Due to the mobility restrictions applied in 2020 as a result of the pandemic), sales of new cars plummeted 49% to 24,091 units. https://www.newsroompanama.com/business/suvs-lead-66-growth-in-new-vehicle-sales Quote Link to comment Share on other sites More sharing options...
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