Honduras 2021. Toyota Chases Nissan’s Leadership In Market Gaining In Double-digits

Honduras car market
The 2022 Hyundai Bayon

Honduras’s Auto market in 2021 gains 16.1% with 11,352 sales, reporting a progressively better performance up until Q4, when sales dropped. Toyota chases Nissan’s leadership and slowly gains market share.

Market Trend

Honduras’s car market this year grew effectively very effectively, reporting a progressively better performance up until Q4, when sales dropped in double-digits.

Honduras vehicles market in recent years hit the all-time record in 2015, at the end of the too-fast growth. Then inexorably sales declined. In 2017, new vehicle sales have marginally recovered after the deep fall reported in the previous year, with annual sales at 11,712 (+19.5%). In 2018, the market kept recovering in double-digits, ending the year at 12,974 , up 10.8%.

In 2019, the vehicle market is slipping down again. Indeed, sales in 2019 have been 10,465, losing 11.7% from last year.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 9,778, reporting a decline of 14.7% compared to 2019.

In 2021 the year started positively for the Honduras market, in fact, in Q1 3,123 units have been sold, reporting a 7.9% increase in sales compared to Q1 2020, and in Q2 sales kept growing due to the incredibly low levels of the previous year, reporting a 31.4% increase with 2,437 units sold.

In Q3 sales kept growing quickly, rising 73.5% with 2,802 units, but in Q4 they dropped 14.1% with 2,990 units sold.

Indeed, Full-Year sales for 2021 have been 11,352, reporting a 16.1% increase compared to 2020.

Honduras quarterly sales variation
Honduras quarterly sales variation

Brand-wise, this year the leader Nissan (+15%) lost 0.2% market share, followed by Toyota (+18.5%) which gained 0.4% market share. Ford (+12.2%) was in the third position.

The most sold model in the country is the Nissan Versa with 807 sales (+28.5%), holding 7.1% market share.