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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

Poland. Best selling cars ranking in the 2020
Wednesday November 04, 2020

Poland Best Selling Car ranking in 2020 registered two models contending for the market crown. However, the Skoda Octavia managed to hold the 1st position with 4.4% of share, ahead of the Toyota Corolla and the Toyota Yaris. The Skoda Octavia – which has lost 1.4 points of share during the last decade – keeps […]

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Senegal 2020. The market declines 10.8% Year to Date in September
Monday November 09, 2020

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