Honduras Vehicles Sales in 2015 improved for the fourth year in a row, hitting the new all time record with 14.292 sales, fueled by internal demand, gaining strength during the year. However, new new vehicles are still penalized by used imported cars.
Honduran economy gained strength in 2015 and the latest indicators suggest that it is still growing steadily, although at a somewhat slower pace. According to the Central Bank, economic activity expanded in February at a similar but slightly slower rate than in the previous month.
The expansion was driven by growth in a number of sectors including finance and agriculture. Besides, the trade deficit decreased in February, although the improvement was due to a double-digit drop in imports.
However the automotive sector has not reported significant growth in the new vehicles sector, still penalized by the easy access of imported used vehicles. According to data released by the local association of car distributors, the ADHIVA, in the 2015 new vehicles sold had been 14.292, up 13.4% from the previous year.
The market growth was driven by availability of easy loans with up to 72 months payment delay, confirming the efforts of new vehicles dealers to defend their spaces from imported used vehicles.