Panama Full Year 2022: Market up 10%, Toyota places four models in Top 5

Toyota places four models in the Top 5, including the Rush.

Full Year 2021 figures are also included in this update.

The Panama new car market grows 10% year-on-year to 41,570 units. Toyota (+38%) surges to 25.6% share vs. 20.4% in 2021, while Hyundai (-6.8%) disappoints at 14.8% share vs. 17.5% a year ago. Kia (+27.3%) and Suzuki (-0.7%) leapfrog past a struggling Nissan (-45.7%) down two spots to #5. Mitsubishi (+29.6%) and Isuzu (+40.2%) stand out in the remainder of the Top 10. Notice also Changan (+173.4%) and GAC Motors (+129.7%) both shooting up. Newcomer Geely lands directly at #14 with 1.4% share.

Over in the models charts, the Toyota Hilux (+1.8%) stays on top with 6.6% of the market, albeit below the 7.1% it commanded in 2021. The Hyundai Accent (-29.8%) craters but remains in 2nd place while a newcomer lands directly in third position: the Toyota Corolla Cross. One unit below is the Toyota Rush (+16.3%) while the RAV4 (+61.6%) makes it four Toyotas in the Top 5. The Mitsubishi L200 (+40.9%) stands out below just as the Kia Rio (+29.2%), Picanto (+22.4%) and Hyundai Tucson (+15.5%) also impress.

Full Year 2022 Top 61 All brands and Top 20 models vs. Full Year 2021 figures below.