Car sales in Panama slump after 14 years of a joy ride
Over 13% fewer new cars appeared on Panama’s highways in the first eight months of the year as sales plunged, the first time in 14 years that thee has been a negative trend.
The Panama Association of Automobile Distributors (ADAP) had predicted that by the end of 2017, 10% fewer vehicles would be sold than in 2016. Figures from the Comptroller General suggest the slowdown will be even greater.
Prices of everything in Panama has become way too expensive…After paying for the essentials, there are very few people in Panama that can afford a new car.
To the end of August, 38,221 vehicles were sold, reflecting a contraction of 13.1% compared to the same period in 2016