Costa Rica. In 2018 the market worsened (-20%)

Costa Rica autos market

Costa Rica autos market in 2018 registered a disappointing trend. Indeed, the year ended with sales at 39.530, down 20% from the previous year.

Economic Environment

Costa Rica’s economy expanded 2.7 percent, missing its target and registering slower growth than the prior year. The Central Bank’s president, Rodrigo Cubero, told a news conference the country had expected its economy to grow 3.5 percent in 2018, after recording 3.4 percent growth in 2017. He attributed the under-performance to a three-month strike among public workers, a difficult fiscal situation and the political turmoil in Nicaragua, a key trade partner and transit zone for exports to Central America.

Market Trend

Costa Rica autos market in 2017 pushed the brake after three consecutive all time record with total vehicles sales at 51.875 units, down 13.0% from the previous year. Car passenger’s sales have been 49.415, down 13.1%.

In 2018 the market trend worsened. Indeed, the year ended with sales at 39.530, down 20% from 2017.

Service Solutions

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