Nicaragua 2017. Toyota leader in a market sharply down

Nicaragua vehicles market 

Nicaragua vehicles market has lost steam in the 2017 followed the previous year record, albeit domestic public and private consumption were fairly robust. Toyota kept the leadership with 17.9% of market share followed by Volkswagen.

Nicaragua’s economy lost puff in the third quarter according to recent data, following a strong start to 2017. Growth was 3.2% year-on-year, dampened by a fall in exports of key agricultural products and transport services. On the other hand, public and private consumption were fairly robust. Signs for Q4 are positive; in November, year-on-year economic activity growth picked up, while remittances surged from a year ago, likely thanks to a dynamic U.S. labor market.

Nicaragua vehicles market has lost steam in the 2017, following the all time record established in the previous year, when sales hit the 19.091 units. Indeed, as reported by the local association of car manufacturers (ANDIVA), total new vehicles sales have been 9.500.

The best selling brand was again Toyota with 2.784 sales (-17.6%) and 17.9% of market share, followed by Nissan with 1.200 (-24.6%) and Hyundai with 997 (-3.7%).