Costa Rica 2016. New car market hit the new all time record

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Costa Rica vehicles market in 2016 hit the third all time record in a row fueled by the economy expansion and strong private consumption. With a volume near 60.000 units, Costa Rica is acquiring relevance among Latin America.

The Costa Rica’s economy expanded healthily in 2016 and growth picked up in the final quarter on the back of strong private consumption. Momentum looks to have eased in the early months of 2017, however, with economic activity growth slowing in the three months up to February. Fiscal concerns are also plaguing the country and two of the three major credit rating agencies have recently downgraded their rating while the third maintains a negative outlook.

The rapid development of the country is followed by the growth of the demand for vehicles and the relatively high pro capita GDP (in the 2016 over US$11.000) support the new vehicles segment and reduce to minimum the import of pre owned. Indeed, this is one of the few country in Central America where new vehicles import exceed the used import segment.

Total vehicles sales in the 2016 hit again the record, third year in a row, with 59.655 sales (+21.1%).

Market leader was Toyota with 9.428 sales (-8.0%) followed by Nissan with 7.075 (+5.6%) and Chevrolet with 6.602 (+43.9%).

Tables with sales figures

In the tables below we report sales for Top Brands

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