Guatemala 2017. Vehicles sales down again, but Ford shines

Guatemala vehicles market

Guatemala vehicles market was shy in the 2017 losing 4.8% from the previous year and declining for the second year in a row. However, Ford shine and gained the second place, immediately behind the leader, Toyota.

Guatemala economic growth appears to have been more sure-footed in Q4 2017 and is likely to have accelerated slightly. Preliminary estimates released by the Central Bank ahead of Q4 GDP figures put full-year growth for 2017 at 2.8%, suggesting a pick-up in activity at the end of the year. Economic growth in Q4 likely benefited from healthy remittance inflows.

Guatemala’s vehicles market hit the best level ever in the 2015 with a record of 30.359 sales, before to start declining.

Indeed, according to data released by the local association of car manufacturers (AIDVA), total new vehicles sold in 2017 have been 25.620, down for the second year in a row, losing 4.8% from the previous year.

 Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
Car+LCV24.00025.76428.58730.35926.90025.62028.028
 2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e
Car+LCV4,3%7,4%11,0%6,2%-11,4%-4,8%9,4%

The market leader was Toyota with 4.426 sales  (-25.8%) and 17.3% of market share, followed by Ford with 2.900 (+26.9%) and Hyundai with 2.885 (-12.6%).

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