Jamaica vehicles market in 2019 is currently stable. Indeed, Year to Date November figures are at 6.578. Toyota is holding the crown with over 30% of share, ahead of Kia and Volkswagen.
Economic Environment
Jamaica’s economy is expected to have continued growing at a meek pace in the three months ending in September. This comes amid a steeper plunge in tourist arrivals in the third quarter compared to the second, which will have weighed on services exports, while adverse weather conditions likely hurt the agricultural sector.
Moreover, the trade deficit widened in the first eight months of the year compared to the same period last year on a drop in merchandise exports.
Market Trend
Jamaica’s vehicles market is quite stable between the 5.000 – 6.000 annual sales. After hitting the best in the 2015, with 6.576 units, the trend embarked on a negative path and in the 2017 market fell down for the second year in a row, at 5.376 units, down 5.7% from the previous year. In 2018, the market suddenly grew at high speed, ending the year with sales at 7.176, soaring 33.5%.
In 2019, registrations are currently in line with the previous year. Indeed, Year to Date November figures are at 6.578.
Brand wise, the trend is of progressive increase of competition year after year, with new players joining the arena eroding share to the previous players. Toyota is holding the crown with over 30% of share, ahead of Kia and Volkswagen.
Tables with sales figures
In the tables below we report sales for Top Brands
