Bermuda vehicles market in 2019 is holding a stable trend. Indeed, Year to Date November sales have been 1.316. Kia held the market throne with over 25% of share, ahead of Toyota and Renault.
Economic Environment
As with most islands, the major turning point in Bermuda’s economy was the switch from an agricultural economy to one based in the tourist trade. Bermuda now offers a wide range of tourist-friendly options year round and benefits from its proximity to the U.S. mainland.
Over 360 thousand visitors travel to the island each year to relax in resorts, relax at the beaches, and tour the sites. Many thousands of vacationers arrive from the United States. Not surprisingly, tourism is one of Bermuda’s largest industries (28 percent of Bermuda’s Gross Domestic Product can be attributed to the tourism industry).
Market Trend
Domestic vehicles market is small, with just few units over the thousand and is fueled by tourism and rent cars. In 2017 the market reached 1.380 units, up 5.5% from the previous year. In 2018, the market hit the new all-time record, selling 1.433 units, up 4.1%.
In 2019, the market is holding a stable trend. Indeed, Year to Date November sales have been 1.316. Kia keeps dominating with over 25% of market share, ahead of Toyota and Renault, holding respectively 16% and 10.5% of share.
Tables with sales figures
In the tables below we report sales for Top Brands
