Panama vehicles sales in 2019 the market reported a shy recovery. Indeed, Year to Date November sales in 2019 have been 45.530, projecting the full year to 51.679, up 1.8%. Toyota holds the market throne with over 20% 0f share, while the best follower is Hyundai.
Panama vehicles sales reported in the 2018 the second consecutive decline with total vehicles sales at 50.766 (including 242 HCVs), down 10.3%. Toyota kept the crown, with market share stable just over the 20% while Nissan boomed taking the third place, between Hyundai – second – and Kia -third -.
Panama vehicles sales in the 2017 have lost in double-digit, first time in five years, hit by the increase of local registration duties and by a slower economy. Expectation for the second half are more optimistic as economy is accelerating.
Panama light vehicles market scored in the 2016 he sixth all time record in a row, keeping the slow and stable trend and pushed up by one of best economy in the region. Toyota still on top but Hyundai is fast improving.
Panama Auto Market hit the new All-Time record in 2014 with sales near 60.000 fueled by strong consumer demand. Toyota boomed sales and overtook Hyundai on top of the ranking.