The Association of Panama Auto Distributors (ADAP), revealed that during the first seven months of 2007 there was an increase of 32% in the automotive market in Panama compared to the same period in 2006. And this trend is expected to continue towards year end. 

The ADAP statistics, reveal that 22 thousand 47 new automobiles circulate the streets of our country, favorably benefiting the automotive market in Panama.  This year about 5 thousand 311 more vehicles enlisted the automotive market of Panama this year, regarding last year during the same months.

Carlos Rabat, Operations Manager for the FASA Group, wholesaler for Nissan, BMW and Renault pointed out that since the automotive market in Panama slowed down in May and June, the total sales of the automotive market in Panama surpassed those of 2006 in the same period.  “the sales are stabilizing and we can be getting closer to the top of the demands of this market”, he stressed.

During the first months of the year Toyota, followed by Nissan and Hyundai have been the top makes. These three makes have kept their same position in sales that they occupied in the Republic of Panama for the year 2006. 
 
The fourth and fifth place for sales in the automotive market in Panama, is occupied by Mitsubishi and Kia with 22% and 20% respectively. Honda and Chevrolet figure in the sixth and seventh place in the automotive market in Panama, as opposed to the closing of 2006, where Chevrolet had surpassed Honda in sales.

The Hatchback segment did not represent any important volume in the automotive market in Panama a couple of years ago; however, it has turned into one of the highest volume.  The sale of trucks; as well as pick ups, has demonstrated a favorable increase in the automotive market in Panama, which is attributed to the boom in commercial activity that the country is experimenting. 

The real estate growth as well as the influx of foreigners with permanent residence in Panama have contributed to the increase in the automotive market in Panama.  Currently there are a great number of investors that travel constantly to this country just for the purpose of acquiring a vehicle.

 
Experts in the automotive market in Panama advise that the best moment to buy a new car is the last day of the month when the closing of sales is approaching and the opportunity for a deal or promotion is available or also at the end of the summer, when the new models arrive. 

The automotive market in Panama offers as a benefit to its clients, maintenance packages for the vehicle, service and deals on parts and repairs, which makes the automotive market in Panama more competitive in comparison to the markets of other neighboring countries.