Vehicles: Is the Sales Trend Reversed?
Wednesday, September 4, 2019
Although the downward trend in new vehicle sales continues in Panama, the declines in the number of units marketed reported in recent months compared to the same periods in 2018 are decreasing.
In line with the downward behavior of recent years, between January and May 2019 19,819 vehicles were registered in the country, 9% less than in the same period in 2018, and for the period from January to June it was reported that the year-on-year fall was 8%.

According to the most recent figures of the General Comptroller's Office of the Republic the falls are lower, because from January to July 2019 27,484 vehicles were registered, an amount that is 5% lower than that recorded in the first seven months of 2018.

You may be interested in "Automotive business in Central America

When reviewing the quantities of vehicles sold per month, the report states that only in May was reported a variation from the same month of 2018 of -12%, in June the indicator was -3% and in July was recorded a 15% increase.

Also see "Car Brands: Figures at the Beginning of 2019

Economist Olmedo Estrada told that the behavior "... has a lot to do with optimism in consumers. Yet, despite the fact that only two months have gone by since the new government, there is no such generalized optimism that we see a rebound in activities, but something has improved the economy."

Estrada added that "... these figures indicate that for the coming months these numbers will vary substantially and by the end of the year they could have positive figures, since the same economic environment is optimistic and that is what allows investments in economic activities to take place."

See Comptroller's Office report.

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