Nicaragua. In 2019 the vehicle market is marginally negative

Nicaragua vehicles market 

Nicaragua vehicles market in 2019 is marginally negative. Indeed, Year to Date November sales have been 10.491, projecting the full year to 11.448 (-1.2%). Toyota keeps leading the ranking with 24.3% of share, ahead of Nissan and Hyundai.

Economic Environment

While hard data is limited, there have been tentative signs the downturn has bottomed out in the second half of the year. The banking sector appears to have stabilized, with bank withdrawals easing and the ratio of non-performing loans declining through September.

Moreover, international reserves rose to USD 2.3 billion by the end of Q3, suggesting economic imbalances have waned. In light of this, in November both Fitch Ratings and S&P Global Ratings upgraded their outlooks for Nicaragua to stable; however, they maintained their B- ratings due to ongoing political risk, low economic growth prospects and fragile external financing conditions.

Market Trend

Nicaragua vehicles market has lost steam in 2017, following the all-time record established in the previous year, when sales hit the 19.091 units. Indeed, in 2017 total new vehicles sales have been 9.500, while in 2018 the market registered a flat performance.

In 2019, sales are marginally negative. Indeed, as reported by the local association of car manufacturers, Year to Date November sales have been 10.491, projecting the full year to 11.448 (-1.2%).

Despite having lost over 7 points of share since 2015, Toyota keeps leading the market in 2019 with 24.3% of share. Behind, Nissan and Hyundai are respectively projected to 15.1% and 10% of share.

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