. . .

El Salvador 2020. Vehicle market still unable to recover effectively (-30.6%) after second wave hits the country

El Salvador vehicles market in 2020 suffers again in September, affected by the country’s second wave of infections. Indeed, 278 units have been sold in September (-58.4%), leading Year to Date sales at 4.180 units (-30.6%).
Economic Environment
Economic conditions likely remained downbeat in Q3, despite improving somewhat, after Q2’s record GDP contraction due to the fallout from the pandemic. Economic activity continued to shrink in August, albeit at the softest pace since March, which suggests that the downturn has bottomed out.
Moreover, exports grew for the first time in seven months in September, while imports decreased at the softest pace in six months, hinting at a pickup in domestic demand. Meanwhile, remittances continued to climb from April’s collapse through September, as employment levels improved in the U.S.
However, Covid-19 cases continued to rise in September–October, which could weigh on activity in Q4. In brighter news, in late October, the OPEC Fund for International Development approved a USD 35 million public sector loan to support small- and medium-sized businesses hit by the pandemic.
Market Trend Year to Date
The Salvadoran vehicle market suffered because of the pandemic but managed to recover as cases started dropping significantly in August. Nevertheless, in September cases started growing exponentially again, and sales plummeted by 58.4%, with only 278 new vehicles sold, leading Year to Date sales at 4.180 units, a 30.6% decrease compared to the previous year.
Brand-wise, Toyota remains the market leader with 16.5% market share, closely followed by Nissan with 14.6% and a little further by Chevrolet with 13.2%.
Medium-Term Market Trend
Salvadoran auto market is constantly losing terrain in recent years, after the record scored in the 2012.
Indeed, in the last two years the new vehicles market declined and in 2017 hit a negative peak, with 8.783 sales, down 3.3% from the previous year. 
After several discussions regarding the opportunity to define more strict rules for the import of used vehicles, no actions had been taken so far by the government, and the new vehicle sales are penalized by the still huge bulk of used imported vehicles market.
In 2018, the market marginally recovered, with sales at 9.379, up 6.8%.
However, in 2019, according to data released by the General Directorate of Customs, registrations are falling sharply down and will hit the lowest volume of the last decade. Indeed, Year to Date November figures have been 7.374, projecting the full year at 7.938, down 15.4%.
In Q1 2020 the market was quite stable, losing only 0.6% sales with 1.997 units sold, but the situation quickly got worse in Q2. In fact, First Half sales dropped by 35.2%, with 2.603 reported sales.
Tables with sales figures
In the tables below we report sales for the Top 10 Brands

ASEAN 2020. Best selling cars ranking
Wednesday November 25, 2020

Asean best selling cars ranking up to October 2020 is again dominated by the Toyota Hilux, widening the gap from the main follower, the Isuzu D-Max. The Perodua Axia and the Honda HR-V enter the leaderboard, landing in 5th and 9th position. Association of Southeast Asian Nations (ASEAN) is an economic free trade area in […]

The post ASEAN 2020. Best selling cars ranking appeared first on Celadon Saigon.

This content is for members only. Visit the site and log in/register to read.

Costa Rica 2020. Market down for the 4th year in a row while Toyota easily maintains leadership
Monday November 16, 2020

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */table.MsoNormalTable{mso-style-name:”Tabella normale”;mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-parent:””;mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin-top:0cm;mso-para-margin-right:0cm;mso-para-margin-bottom:10.0pt;mso-para-margin-left:0cm;line-height:115%;mso-pagination:widow-orphan;font-size:11.0pt;font-family:”Calibri”,”sans-serif”;mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin;} 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 post Costa Rica 2020. Market down for the 4th year in a row while Toyota easily maintains leadership appeared first on Celadon Saigon.