Trinidad & Tobago 2019. Vehicles industry approachs a recovery path

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Trinidad and Tobago Car Market
Hyundai-i20-2019

Trinidad and Tobago car market in 2019 is embarking on a positive track. Indeed, Year to Date November sales have been 13.464, projecting the full year to 14.342, up 8.7%. Toyota is on top, while Nissan and Hyundai are fighting for the 2nd position.

Economic Environment

Trinidad & Tobago economy looks to have remained muted in the second quarter, following three straight quarters of contraction, although comprehensive data is yet to be released. Production of LNG, natural gas and oil, as well as cement exports, declined in Q2, although ammonia exports rose year-on-year.

Turning to the third quarter, economic activity looks to have fared better, as LNG production rebounded solidly and local cement sales grew firmly, boding well for the construction sector.

Market Trend

Trinidad & Tobago car market is one of the largest in the Caribbean with recent years characterized by a sequel of new all time records, ended in the 2016 with a record of 18.204. However, in 2017, the momentum was suddenly broken and the market fell down above any expectations, falling at the lowest level in this decade, at 13.500 units, down 25.8% from the previous year.

In 2018, the market kept declining. Indeed, the year ended with sales at 13.200, down 2.2% from the previous year.

In 2019, the market reports robust improvement from last year. Indeed, according to data released by local Association of Automotive Dealers, Year to Date November sales have been 13.464, projecting the full year to 14.342, up 8.7%.

In the competitive landscape, Toyota is leading the market with 20.2% of share, while Nissan and Hyundai are fighting for the 2nd place, holding respectively 17.1% and 16.9% of share.

Tables with sales figures

In the tables below we report sales for Top Brands

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