Trinidad and Tobago car market in 2018 declined for the 2nd consecutive year, losing moderately. Indeed, the full year ended with sales at 13.200, down 2.2% from the previous year, hitting again the worst level in this decade, despite the end of economic recession
Economic Environment
Trinidad & Tobago economic growth, after a four-year recession due to weaker hydrocarbon prices and lower production in the energy sector, growth returned to positive territory in 2018, and the recovery is expected to continue in 2019.
Economic activity is mainly linked to the energy sector (oil, gas and petrochemicals), which accounted for 35% of GDP and 70% of exports in 2017. The sector expanded by 8% in 2018, and new energy projects in 2019 – including the opening of the Angelin gas platform off the southeast coast of Trinidad – should maintain its good contribution to growth.
Market Trend
Trinidad & Tobago car market is one of the largest in the Caribbean with recent years characterized by a sequel of new all time records, ended in the 2016 with a record of 18.204.
However, in 2017, the momentum was suddenly broken and the market fell down above any expectations, falling at the lowest level in this decade, at 13.500 units, down 25.8% from the previous year.
In 2018, the market kept declining. Indeed, according to data released by local Association of Automotive Dealers, the year ended with sales at 13.200, down 2.2% from the previous year.
Tables with sales figures
In the tables below we report sales for Top Brands
