Panama’s New Car Sales Volume Reached 46,644 in 2011

2012-01-13

Despite the heavy traffic congestion in Panama’s capital city, high oil prices and some street closures caused by mass transit construction, Panamanians’ willingness to buy new cars is not dampened. Data from the Panama Automobile Dealers Association shows that Panama’s new car sales in 2011 exceed expectations. The volume of new cars sold for the entire year is 46,644, which is 9,188 more cars than the 37,456 cars sold in 2010. Among all the brands sold, the more popular brands are: Toyota, Hyundai, Nissan, Kia and Honda. With continuous economic growth, Panama is expected to have a good sales record in 2012. The association also added that the increased car sales help boost sales tax (ISC) revenue to the nation’s treasury, which further helps the economic growth in Panama.