Costa Rica 2014. Vehicle Market rose 4%

Costa Rica Vehicle Market

In 2014 Costa Rica Vehicle Market rose 4% fueled by positive economic environment and used vehicles import cut. Toyota kept the crown as best-selling brand ahead of Koreans competitors.

In 2014, according to data released by the Association of Automotive importers, the Light Passenger Vehicles market in Costa Rica rose 4.3% from the previous year with 34.024 sales.

As all countries in this zone, new vehicles sales trend is really correlated with the government duties and regulations on imported pre-owned vehicles, actually still the highest portion of vehicles sold in Costa Rica.

The local economy is living a positive trend and the last half heavy cut of crude oil price in the international market is creating further development opportunity for the country, an energy importer. In February, the Costa Rica’s central bank said it had lowered its main interest rate 50 basis points to 4.75 percent to take advantage of a steep decline in oil prices to help meet its 2015 economic growth target of 3.4 percent.

2015 New vehicle market is projected up 10% thanks to the economic growth.

In 2014, the Japanese Toyota was market leader with 6.486 sales and 19.1% of market share, followed by Kia with 4.015 units (+1.9%) and 11.8% of share, and Hyundai with 3.913 units (+0.4%) and 11.5% of share.

The fastest growing brand was Mazda that ranked 13th with 589 sales (+38.8%).

As far as the car groups performance, the leader was Hyundai-Kia with 23.3% of market share, ahead of  Toyota with 21.1% and Renault-Nissan with 12.2%.

Tables with sales figures

In the tables below we report sales for Top Brands

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