Panamanian 2014 Car Production Grows 7%

Panama has been in the most recent years a country with the fastest economic growth in Central America and it has one of the most vibrant markets for new vehicles, whose scale grew 7% over 56,147 units in 2013. Chairman Jose Carrion of a local automobile distributors association analyzed and pointed out that the booming Panamanian automotive market mainly resulted from the high economic growth, the inflow of foreign professionals, as well as the establishment of local operations of foreign companies. Carrion forecast that the sales growth this year will be between 2-4% if the sales in Panamanian automotive market continue a steady growth.