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Panama 2020. Car sales down 20% after 9 months


Uganda. Market contracts by 36% in 2020 after hitting the highest volume of the decade last year
Friday September 25, 2020

Uganda vehicles market in 2020 reports a considerable contraction after hitting the highest volume of the decade the previous year. Indeed, 948 units were sold Year To Date until August, losing 36% compared to last year. Toyota  (-21.3%) maintains in leadership, Volkswagen was the top 10 gainer, with a 175% increase while Mazda plummeted by […]

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Balaji’s crazed wisdom on Howard Lindzon podcast: “There will be both deflation in wants and inflation in needs”
Tuesday November 03, 2020

Balaji appeared on Howard Lindzon’s Panic With Friends recently and I took a bunch of notes and wanted to share them here. As usual Balaji is going 150mph and some of his insights are pretty out there, but clearly the product of deep thought and research. So I need to review what he says multiple […]

The post Balaji’s crazed wisdom on Howard Lindzon podcast: “There will be both deflation in wants and inflation in needs” appeared first on Celadon Saigon.


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Panama vehicles market in 2020 plummeted as soon as COVID-19 hit the country, and still haven’t recovered effectively yet. Indeed, 1.341 units have been sold in September (-28.8%), leading Year to Date sales at 13.592 units (-19.9%). All brands report double-digit losses except Nissan, losing 2.9%.
Economic Environment
The economy likely remained downbeat in Q3 on lingering domestic Covid-19 restrictions. Activity in the Panama Canal was down in the third quarter, which highlights that weak international trade continued to batter the important transport sector, albeit to a lesser extent when compared to Q2.
Moreover, a raft of domestic indicators paint a similar picture: Fuel sales, cement sales and new car registrations were all down markedly in annual terms in Q3—although again to a lesser extent than in Q2—suggesting depressed domestic travel, construction activity and private consumption, respectively. Similarly, merchandise exports were down sharply in July–August.
In other news, the government lifted some restrictions on 25 October, including reopening beaches and ending the Sunday quarantine. The move came after international travel resumed on 12 October and gender-based mobility restrictions ended in September, and should further support the recovery in Q4.
Market Trend Year to Date
The Panama vehicles market remains heavily influenced by the COVID-19 crisis as cases in the country continue to remain high. Indeed, in September 1.341 units have been sold (-28.8%), leading Year to Date sales at 13.592, a 19.9% decrease compared to the previous year.
Brand-wise, all brands in the leaderboard report double-digit losses except Nissan, losing only 2.9%. Meanwhile, the market leader Toyota maintained  22.9% market share, followed by Hyundai with 18% share.
Medium-Term Market Trend
Pushed by a fast-growing economy, the automotive industry reported a strong growth period during the last decade, with the best ever selling year in 2016, when sales hit the record of 63.500 units.
The introduction of higher duties required by the Autoridad de Tránsito y Transporte Terrestre (ATTT) to register vehicles (new and old) into the Registro Único Vehicular, effective from January 2017, and a slower economic trend, caused in 2017 a sudden market deceleration with sales declined at 56.563 and the negative pathway was taken during 2018 as well, with total new vehicles sales declined at 50.766 (including 242 HCVs), down 10.3%.
In 2019, the market reported a shy recovery. Indeed, Year to Date November sales in 2019 have been 45.530, projecting the full year to 51.679, up 1.8%.
Brand-wise, 2019 sees Toyota as the market leader with a market share stable just over 20%.
In Q1 2020 7.548 units have been sold, growing 33.2%, but this trend quickly reversed as First Half sales were 9.773, falling 13.6% compared to last year.
Tables with sales figures
In the tables below we report sales for the Top 10 Brands

Russia Autos Market Report 2010-2025
Saturday October 10, 2020

Russia Autos Market Report 2010-2025 features historical data and insights plus professional forecast on new vehicles sales by type, manufacturer, brand and model providing an easy-to-use picture of current and future competitive landscape. Research Contents Focus2move Automotive Market Reports provide a comprehensive and extensive overview about this market including information on the cars and light commercial market size, […]

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