This is another side of the blistering growth we have had for the past 10 years and it is now slowing.  That said, many nations would be jealous and thankful for any growth at all.  Over the past year 66,700 new vehicles were registered, only 3% more than in 2015, while between 2014 and 2015, the increase was 7%.

Of the 66,700 new vehicles registered in 2016 in Panama, 28,000 were for regular cars, 20,000 were SUVs and 2,500 were luxury cars. In the case of pickup vehicles, almost 10 thousand units were registered, 19% more than in 2015.

See also: “Figures on Vehicle Fleet in Panama“

Statistics from the General Comptroller show that in the car segment, the category which fell the most was the luxury car segment, as in 2016 2.553 units were registered, 14% less than the previous year. 

See: “Age of the Vehicle Fleet in Central America“

The speed of growth in imports of new vehicles has been declining since 2012. Between this year and 2013, the growth rate was 11%, between 2013 and 2014 it was 7.4% between 2014 and 2015, it was 7.3%, and now the increase is only 3%.

See figures from the Comptroller General of Panama. (In Spanish)