Honduras Vehicles Market in 2019 is hit by another sales’ drop. Indeed, Year to Date November sales in 2019 have been 10.499, losing 11.7% from last year. Nissan keeps the market crown holding 22.3%, while Toyota and Ford are projected respectively to 17.7% and 9.3% of share.
Economic Environment
Honduras’ economy is expected to have bounced back in Q3 after widespread protests caused growth to plunge to a near one-decade low in Q2. Average growth in the economic activity index accelerated notably in Q3, while inflationary pressures moderated somewhat in the quarter, boding well for private consumption. On the other hand, the merchandise trade deficit widened in the quarter despite stronger export growth.
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, ending the year at 12.974, up 10.8%.
In 2019, the vehicle market is slipping down again. Indeed, according to data released by the local association of car distributors, Year to Date November sales in 2019 have been 10.499, losing 11.7% from last year.
In the competitive arena, near half of the market is held just by the Top 3 brands. The ranking is almost unchanged, but the main players have lost some points of share. Indeed, Nissan keeps the market crown holding 22.3% of the market, followed by Toyota and Ford, which are projected respectively to 17.7% and 9.3% of share.
Tables with sales figures
In the tables below we report sales for Top Brands
