Honduras Vehicles Market in 2018 kept recovering from the 2016’s sharp drop. Indeed, registrations ended the year at 12.974, up 10.8% from the previous year. Nissan held the market throne with 23.7% of market share, ahead of Toyota and Ford.
Economic Environment
Honduras, during recent years, has registered the second-highest economic growth rates in Central America, only behind Panama. The country’s GDP growth reached 4.8 percent in 2017 and 3.7 percent in 2018 and is projected to grow 3.3 percent in 2019, above the average in Central America and well above the average in Latin America and the Caribbean (LAC). In addition, Honduras has sustained progress with adjustments allowing the reduction of fiscal deficit and stabilization of public debt.
Honduras possesses multiple strengths with the potential to propel the country towards faster growth and higher shared prosperity, with its strategic location, a growing industrial base, ongoing efforts to diversify its exports, and a young and growing population.
Market Trend
Honduras vehicles market in recent years hit the all-time record in the 2015, at the end of the too-fast growth. Then inexorably sales declined. In 2017, new vehicles sales have marginally recovered after the deep fall reported in the previous year, with annual sales at 11.712 (+19.5%).
In 2018, the market kept recovering in double-digits. Indeed, according to data released by the local association of car distributors, registrations ended the year at 12.974, up 10.8% from the previous year.
In the competitive arena, the ranking was almost unchanged as Nissan held the market throne with 23.7% of market share. Toyota and Ford were still the leader’s main followers, holding respectively 18.1% and 9.7% of share.
Tables with sales figures
In the tables below we report sales for Top Brands
