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Trends in New Vehicle Sales Volume

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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

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New car sales continue downward for third year

toyotaj.jpeg

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

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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

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