Guatemala 2014. New vehicles market hits the 10th consecutive sales record

Guatemala Car Market

In 2014 Guatemala Car Market hit the 10th consecutive record year as the market benefit from a stable steady economic growth. The new vehicle domestic market leader is Toyota.

In 2014, according to data released by the local association of car importers, total new Light Passenger Vehicles sold in Guatemala have been 28.587, up 11.0% from 2013.

The last was the tenth annual record in a string as the market is steady growing, year after year since 2004.

Guatemala is the most populous country in Central America with a huge potential for development of the automotive industry, today still limited by the low pro capita income and low consumer’s spending in durable goods.

Guatemala is the biggest economy in Central America but is among Latin American countries with the highest levels of inequality, with poverty indicators —especially in rural and indigenous areas— among the highest in the region.

President Otto Perez took office in January 2012, pledging a tough stance on crime and a commitment to strengthen social programs and to promote employment through competitiveness reforms.

The political panorama remains challenging for the Executive branch, as it does not have legislative majority and Congress has remained virtually paralyzed.

The main challenges for the government include fostering transparency and inclusive growth, addressing social inequalities and ensuring revenues to finance public spending on education, health and infrastructure, among others.

Despite the still low car circulating park, the domestic new vehicles market stand at low level as the major of vehicles imported are pre-owned with over 10 years age.

In the battlefield, Toyota led the ranking fighting against Koreans.

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