Panama car sales continue downward plunge

 
577Views 5Comments Posted 04/11/2017

VEHICLE sales in Panama continue to plummet, down  13.3 % in the first nine months of the year according to  the latest figures from the Comptroller General  with little sign that the picture  will change by year end in spite of   a rash of special “deals”

Until September, 42,514  that’s down from  49,059 in the same period last year and 46,041 in 2015

One of the reasons to for the reduction is said to be the overall slowdown in Panama’s economic growth after a boom period when the country’s  figures were a beacon in a world struggling to cope with expansion rates of one or two percent.

The slowing growth and rising prices  has  affected the housing market, the influx of new residents and the car  market

At the same time the useful life of vehicles has been The combined effect is reflected in plunging sales figures:

buses (-27%), trucks (-24%) and panels (-21.2%). Regular cars, including sedans, coupes and vans, (- 20%)

Currently, companies are competing for customers with pricing offers and discounts or benefits in the maintenance segment, reports La Prensa.



Comments 5

user
sral

Why buy a car if you have to park it on the highways and streets with you in it and the engine running. One word: traffic.

3 years ago
user
ceasar6095

Lol...stop corruption! Seriously. Have you not heard of Hillary or the clinton foundation?

3 years ago
user
ME

I agree Drain.

3 years ago
user
Draintheswamps

Thats the funniest thing ive read all day.

3 years ago
user
mhogan

Short explanation: the economy is faltering. We all better hope the Pres has a clear understanding how to right the ship and considers reversing some policies that led to this state in the first place. suggestions in general: reduce bureaucracy at all levels (bureaucrats do not contribute to the GDP but drain it); reduce steps to starting a business; lower taxes if possible, if not, DO NOT add to the tax burden of individuals or businesses; make it easier for people to pay their taxes or for government services; stop with subsidies--they only encourage not working and stifle self-reliance; do a better job of negotiating major public works projects and avoid questionable business affiliates; consider the economic impact of foreigners who contribute to the country and rethink how to attract those and dissuade who do not (eg return the 3 month tourist visa to 6 months but do a better job of regulating them to not take employment here); rethink instituting 30-day emergency health insurance for tourists paid by government (what comes to mind is CR policy of non-insurance and tourists injured in the country return home with a bad experience to relay to their friends); clean up the tourist areas to attract more to spend more and encourage entrepreneurs to take part in this revitalization by offering incentives that they can count on; and the biggee: STOP CORRUPTION and collect the ill-gotten gains by corrupt business/politicians to the national treasury to help the people.

3 years ago
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