Panama 2020: Toyota Hilux best-seller in imploding market

HiluxThe Toyota Hilux is the best-selling vehicle in Panama in 2020.

Impacted by the COVID pandemic, the Panamian new car market loses half its value in 2020 at -49.9% to 23,834 on a revised 2019 tally without heavy commercial vehicles. Toyota (-46.6%) improves its share to 21.1% vs. 15.8% for #2 Hyundai (-53.3%). Kia (-45.9%) overtakes Nissan (-48.6%) for third place with 12.8% share vs. 12.5%. Suzuki (-62%) rounds out the Top 5 like last year, distancing Honda (-59.1%), Chevrolet (-33.6%) and Mitsubishi (-43%). Below, notice GAC Motors surging 254.5% to almost halve its ranking vs. last year to #17.

Model-wise, the Toyota Hilux (-45%) reclaims the top spot on revised 2019 figures featuring the Hyundai Accent in pole position. The Accent (-56.1%) falls to #2 ahead of the Nissan Versa (-24.1%) up 9 spots to #3. The Nissan Frontier (-46.5%) is also up, by two ranks to #4. The Hyundai Grand i10 (-57.6%) falls one spot to #5 ahead of the Toyota Yaris (-49.9%) up two to #5 and the Honda CR-V (-57.6%) down two to #7. The Kia Seltos lands at #10 for its first full year in market.

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Full Year 2020 Top 58 All brands and Top 20 models vs. Full Year 2019 figures below.