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Costa Rica 2020. Market down for the 4th year in a row while Toyota easily maintains leadership

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Some more great quotes from Thoreau’s Walden
Thursday November 05, 2020

I’ve been re-reading and wanted to share a few new favorites: One farmer says to me, “You cannot live on vegetable food solely, for it furnishes nothing to make bones with”; and so he religiously devotes a part of his day to supplying his system with the raw material of bones; walking all the while […]

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Genius: A self-interested obsession that becomes useful or important
Saturday October 17, 2020

That’s my one-line takeaway from PG’s essay, The Bus Ticket Theory of Genius. A few excerpts below: Which leads us to the second feature of this kind of obsession: there is no point. A bus ticket collector’s love is disinterested. They’re not doing it to impress us or to make themselves rich, but for its […]

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Costa Rica auto market in 2020 is still contracting as infections started growing quickly in July and remained high. Indeed, 1.600 units have been sold in September (-40.7%), leading Year to Date sales at 18.977 units (-23.6%). Toyota holds the throne with 23.2% share.
Economic Environment
The economic panorama likely remained downbeat in Q3 due to the ongoing health crisis. Economic activity contracted at a sharper pace in July–August, while the unemployment rate remained high in the same period. More positively, however, exports recovered and imports fell at a softer pace in Q3.
Turning to Q4, further restrictions have been eased, with air borders reopening to all countries on 1 November—without the need for a 14-day quarantine upon arrival nor proof of a negative coronavirus test —aiming to boost tourism and employment in the sector. However, this could lead to an increase in Covid-19 cases, which continued to rise in the country through September and October.
In other news, in late October, the government modified the 2021 draft budget to include a 7.5% reduction in primary spending compared to 2020, in an attempt to control public expenditure.
Market Trend Year to Date
The Costa Rica auto market suffered severely in the last few months as infections in the country have started increasing exponentially in July, and are still very high. Indeed, 1.600 units were sold in September (-40.7%), leading Year to Date sales at 18.977 units sold, a 23.6% decrease compared to last year.
Brand-wise, Toyota remains the undiscussed leader, holding 23.2% share, followed in the distance by Suzuki and Hyundai, holding 12.1% and 11.7% share respectively.
Medium-Term Market Trend
Costa Rica autos market in 2017 pushed the brake after three consecutive all-time records with total vehicle sales at 51.875 units, down 13.0% from the previous year. In 2018 the market trend worsened, ending the year with sales at 39.530, down 20% from 2017.
In 2019 registrations are still declining but at a slower speed. Indeed, full-year sales were at 34.515, down 12.7%.
In Q1 2020 the market was fairly stable with 8.606 units sold (+0.2%), but in Q2 this marginal positive trend quickly reversed, leading First Half sales at 14.196 units, down 15%.
Tables with sales figures
In the tables below we report sales for the Top 10 Brands

How to Buy Your Dream Motorcycle
Saturday October 31, 2020

Finding your very first motorcycle can be just as exhilarating as getting on it and going for that first ride. While you might be so excited about getting your dream bike that you’re not too worried about the details, it’s important to be pragmatic as well when thinking about your dream motorcycle. There are many […]

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