Panama Full Year 2017: Toyota and Kia Rio hold onto lead

Toyota remains the best-selling carmaker in Panama in 2016 and should also be #1 in 2017.

* See the Top 28 best-selling brands in 2016 by clicking on the title *

New vehicle sales in Panama are down a steep 14.7% year-on-year in 2017 to 56.905 units. The Instituto Nacional de Estadística y Censo shares data by segment for the year and absolutely all segments see their volume decline vs. 2016. Regular cars are down 22.8% to 21.590, SUVs edge down just 0.5% to 19.557 or 34.4% share vs. 29.5% in 2016, pickups are down 19% to 8.021, luxury cars are down 4.7% to 2.432, buses are down 23% to 1.231, trucks are down 24.4% to 1.714, minivans are down 9.1% to 1.035 and panel vans are down 24.6% to 988. Except for the fact that the Kia Rio is the best-selling model in the country (quoted by Kia Panama), no data by brand or model has been made available for Panama in 2017, so if you have access to any type of information please contact us here.

The Kia Rio remains the best-selling model in Panama in 2017. Source Kia Panama.

The latest brand info is for 2016 when the market was up 1.5% to 65.702 units. Toyota (+5%) beats the overall growth to tighten its grip on the brands ranking at 21.9% share whereas Hyundai drops 1% and sees its market share thaw from 18% to 17.5%. Kia follows the market at +1% to 16.2% in third place, vastly outperforming Nissan (-3%) at 11.3% Suzuki soars 35% to 8.3% share but remains in 5th place ahead of Honda. Ford is up two spots to #7, overtaking Isuzu and Chevrolet with Mitsubishi rounding up the Top 10 like in 2015. Hino is up three ranks to #14 whereas Audi is down four to #17. BYD breaks into the Top 20 at #19, becoming the only Chinese carmaker among Panama’s 20 best-sellers. JMC follows at #25. We anticipate that Toyota keeps the #1 brands spot for 2017.

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Full Year 2016 Top 28 brands ranking below.