Nicaragua vehicles market in 2018 was flat. Indeed, the year ended with sales at 11.588. Toyota held the market throne with 24% of market share – losing over 7 points of share since 2015 – followed by Nissan with 14.9% and Hyundai with 9.8%.
Economic Environment
In October 2018, the International Monetary Fund (IMF) foresaw a contraction of Nicaragua’s GDP during 2018. In relation to the economic contraction, the Nicaraguan government informed through a proposal of fiscal reforms to the Legislative Assembly that the decrease of the GDP represented around US $1,255.9 million that the inhabitants of the Central American country did not perceive.
The economic future of Nicaragua does not look brighter after the Funides foundation reported that a contraction of between 7.3% and 10.9% of the country’s GDP is expected during 2019, which accentuates the economic crisis.
Market Trend
Nicaragua vehicles market has lost steam in the 2017, following the all-time record established in the previous year, when sales hit the 19.091 units. Indeed, in 2017 total new vehicles sales have been 9.500.
In 2018, the market registered a flat performance. Indeed, as reported by the local association of car manufacturers, the year ended with sales at 11.588.
The best selling brand was still Toyota with 24% of market share – losing over 7 points of share since 2015 – followed by Nissan with 14.9% of share and Hyundai with 9.8%.
Tables with sales figures
In the tables below we report sales for Top Brands
