Bermuda 2018. Car market hit a new all-time record

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Bermuda vehicles
Kia-Rio_Sedan-2018

Bermuda vehicles market is fueled by rent a car and tourism business, which account 28% of the national GDP. In 2018 the market hit the all-time record with 1.433 units, up 4.1%.

Economic Environment

As with most islands, the major turning point in Bermuda’s economy was the switch from an agricultural economy to one based in the tourist trade. Bermuda now offers a wide range of tourist-friendly options year round and benefits from its proximity to the U.S. mainland.

Over 360 thousand visitors travel to the island each year to relax in resorts, relax at the beaches, and tour the sites.  Many thousands of vacationers arrive from the United States. Not surprisingly, tourism is one of Bermuda’s largest industries (28 percent of Bermuda’s Gross Domestic Product can be attributed to the tourism industry).

Market Trend

Domestic vehicles market is small, with just few units over the thousand and is fueled by tourism and rent cars. In 2017 the market reached 1.380 units, up 5.5% from the previous year.

In 2018, the market hit the new all-time record, selling 1.433 units, up 4.1%.

Tables with sales figures

In the tables below we report sales for Top Brands

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