{"id":27853,"date":"2020-01-20T11:51:17","date_gmt":"2020-01-20T16:51:17","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=27853"},"modified":"2020-01-20T11:51:17","modified_gmt":"2020-01-20T16:51:17","slug":"automotive-another-year-red","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/automotive-another-year-red\/","title":{"rendered":"Automotive: Another Year in the Red"},"content":{"rendered":"<p><a href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2020\/01\/autos.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27854\" src=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2020\/01\/autos.jpg\" alt=\"\" width=\"600\" height=\"370\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2020\/01\/autos.jpg 600w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2020\/01\/autos-300x185.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>According to the reported decrease in new car sales in 2017 and 2018 in Panama, during 2019 the negative trend continued, as 47,866 units were registered, 6% less than the previous year.<\/p>\n<p class=\"description\">Reports from the General Comptroller&#8217;s Office of the Republic explain that since 2017 there has been a drop in new vehicle <a class=\"hlink\" title=\"sales\" href=\"https:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22sales%22&amp;q2=mattersInCountry_es_le:%22Panama%22\">sales<\/a>, since 56,905 units were sold that year, 15% less than <a class=\"hlink\" title=\"cars\" href=\"https:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22cars%22&amp;q2=mattersInCountry_es_le:%22Panama%22\">car<\/a>s sold in 2016.<\/p>\n<p>You may be interested in &#8220;<a href=\"https:\/\/centralamericadata.com\/en\/product\/inteligenciaComercialReporte\/8285775\" target=\"_blank\" rel=\"noopener noreferrer\"><u>Automotive business in Central America<\/u><\/a>&#8221;<\/p>\n<p>In 2018, the bad streak continued with 50,889 new <a class=\"hlink\" title=\"Vehicles\" href=\"https:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Vehicles%22&amp;q2=mattersInCountry_es_le:%22Panama%22\">vehicles<\/a> registered, a figure 11% lower than that reported in 2017. The downward trend has extended to 2019, as the sale of 47,866 units was reported, the year-on-year drop was 6%, according to figures from the Association of Automobile Distributors of <a class=\"hlink\" title=\"Panama\" href=\"https:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Panama%22&amp;q2=mattersInCountry_es_le:%22Panama%22\">Panama<\/a> (ADAP).<\/p>\n<p>Also see &#8220;<a href=\"https:\/\/www.centralamericadata.com\/en\/article\/home\/Marcas_de_autos_Cifras_al_inicio_de_2019\" target=\"_blank\" rel=\"noopener noreferrer\"><u>Car Brands: Figures at the Beginning of 2019<\/u><\/a>&#8221;<\/p>\n<p>Gustavo De Luca, president of ADAP, explained to Panamaamerica.com.pa that &#8220;<em>&#8230; the downward trend is beginning to normalize and is already bottoming out.<\/em>&#8221;<\/p>\n<p>The article adds that &#8220;<em>&#8230; The <a class=\"hlink\" title=\"automotive industry\" href=\"https:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22automotive+industry%22&amp;q2=mattersInCountry_es_le:%22Panama%22\">automotive industry<\/a> has a great value for the Panamanian economy, it generates around 2 billion dollars in transactions per year, representing approximately 3% of the country&#8217;s GDP.<\/em>&#8221;\n<\/p>\n<p class=\"link_source\">Source: <a href=\"https:\/\/www.centralamericadata.com\/en\/links\/follow\/9253031\" target=\"_blank\" rel=\"noopener noreferrer\">Panamaamerica.com.pa<\/a><\/p>\n<p class=\"link_source\">\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f16536-o1\" lang=\"\" dir=\"ltr\" data-wpcf7-id=\"16536\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/27853#wpcf7-f16536-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset 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the<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,12,241,39,248,34,33,62,42,219,11,249,243,7,255,246,244,260],"class_list":["post-27853","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-panama-real-estate-bocas-del-toro","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama-rent-in-boquete"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - 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