Panama March. Demand for vehicles is down, first time in years

Panama vehicles sales Nissan-Versa_Note-2017

Panama vehicles sales in the first quarter 2017 fell down, first time after years of continuous growth, mirroring the economy deceleration. Toyota is solid on top of the market while the number of brands represented is expanding.

2016 was a challenging year as the country was beset by international scandals and sluggish economic activity. The small and open economy decelerated for the fifth consecutive year as it was dragged down by the region’s economic woes and flagging maritime trade.

Although GDP expanded at the slowest rate since 2009 last year, Panama was among the fastest-growing economies in the region and the country’s economic fundamentals are solid and stable. The most recent economic data from January is encouraging, with economic activity expanding at the fastest pace in six months and cargo movements in Panamanian ports expanding by more than 12%.

Following a very long growing series, in the first quarter car sales decelerated pointing to challenges in the economy.

Indeed, according with preliminary data released by the Autoridad del Transito y Transporte Terestre in the Q1 2017 vehicles sales had been 14.120, down 11.8%.

Market leader was again Toyota, with 3.367 units (-9.7%) ahead of Kia with 2.247 (-0.1%) and Nissan with 1.860 (+0.0%).

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will report year to date data updated.

Rank March Rank 2017 Brand Sales March Somma di YTD Mar 17 Variation March Variation YTD Share March Share YTD 2017
1 1 Toyota 1.213 3.367 -2,4% -9,7% 22,7% 23,8%
3 2 Kia 732 2.247 -2,4% -0,1% 13,7% 15,9%
4 3 Nissan 605 1.860 -2,4% 0,0% 11,3% 13,2%
2 4 Hyundai 1.200 1.857 -29,2% -39,1% 22,4% 13,2%
5 5 Suzuki 332 887 -2,4% -13,1% 6,2% 6,3%
6 6 Honda 185 612 -2,4% 7,4% 3,5% 4,3%
9 7 Chevrolet 106 411 -26,9% -5,5% 2,0% 2,9%
7 8 Ford 122 382 -2,4% 1,9% 2,3% 2,7%
8 9 Mazda 112 312 -2,4% -9,5% 2,1% 2,2%
8 10 Mitsubishi 112 294 -2,4% -14,7% 2,1% 2,1%
10 11 Isuzu 88 278 -2,4% 2,9% 1,6% 2,0%

(144)

In the spotlight

Brazil Outlook 2017. Recession is not over

Brazil Automotive Industry outlook in the 2017 is not yet positive albeit the prolonged crisis. Indeed economic perspective are still negative and the sector has not yet bottomed out. Market recovery from 2018