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.

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.

Market Trend

Guadeloupe’s car market this year recovered effectively from the pandemic crash of 2020 and reported a very promising performance in all quarters except for Q3.

Guadeloupe is a French territory in the Caribbean zone. The economy is largely focused on tourism and public service. The region has rich biodiversity and a strategic location. Banana and sugar cane cultivation is still key to the economy. Nevertheless, high unemployment, particularly for young people and early school-leaving, hampers regional development.

The new vehicle’s market is almost stable and in recent years has hit a peak in 2016 with 16,440 sales, while in 2017 sales were 15,516, down 5.6% from the previous year.

In 2018, the market immediately recovered, closing the year with 17,520 units sold, up 5.3%, while in 2019 19,206 units have been sold, reporting a 9.6% increase.

Due to the COVID-19 Pandemic, full-Year sales for 2020 have been 14,366, reporting a decline of 25.2% compared to 2019.

In 2021 the year started slightly positively for the Guadeloupe market, in fact, in Q1 3,514 units have been sold, reporting a 4.2% increase in sales compared to Q1 2020, and in Q2 sales kept growing steadily, reporting a 4.1% increase in sales with 3,747 units sold.

In Q3 sales decreased in double-digits, falling 16.9% with 2,814 units, but recovered quickly in Q4 with 5,418 units, rising 35.2%.

Indeed, Full-Year sales for 2021 have been 15,493, reporting a 7.8% increase compared to 2020.

Brand-wise, this year the leader Renault (-0.5%) lost 2% market share, followed by Toyota (+17.7%) which gained 1.3% market share. Peugeot (+17.3%) was in the third position and gained 1.2% market share as well.

The most sold model in the country is the Renault Clio with 1,333 sales (-3.7%), holding 8.6% market share.

Market Trend

The Guatemalan car market this year recovered effectively from the very slight pandemic decrease of 2020 and reported a very promising performance in all quarters.

The market hit the best level ever in 2015 with a record of 30,359 sales before to start declining. Indeed, total new vehicles sold in 2017 have been 25,419, down for the second year in a row, losing 4.8% from the previous year.

The reasons behind this decline are caused by the unfair competition of used vehicles imported and sold in Guatemala’s market without regulations or restrictions on the age, condition, or condition of the vehicles. Moreover, in Guatemala, the approval of a gas emission regulation is urgently needed, which could help to prevent the entry of vehicles, which have been banned from traveling abroad due to the high levels of pollution.

Indeed, even 2018 closed up negatively with sales down 4.9% – according to the forecast – with 24,168 units.

In 2019, the market reported a small improvement from last year. Indeed, full-year sales were 24,727, up 2.3%.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 23,856, reporting a 3.5% decrease compared to 2019.

In 2021 the year started positively for the Guatemala market, in fact, in Q1 6,813 units have been sold, reporting a 9.9% increase in sales compared to Q1 2020, and in Q2 growth accelerated, reporting a 70.8% increase in sales with 8,080 units due to the incredibly low sales volume registered in Q2 2020.

In Q3 sales kept growing, gaining 17.2% sales with 7,049 units, and in Q4 sales remained positive, gaining 7.7% with 7,445 units sold.

Indeed, Full-Year sales for 2021 have been 29,387, reporting a 23.2% increase compared to 2020.

Brand-wise, this year the leader Toyota (+22.2%) lost 0.2% market share, followed by Kia (+24.7%), which gained 0.2% share. Hyundai (+24%) was in the third position and gained 0.1% market share.

The most sold model in the country is the Toyota Hilux with 3,639 sales (+25.1%), holding 12.4% market share.

Market Trend

El Salvador’s car market this year recovered very effectively from the pandemic crash and reported a positive performance in all quarters.

The auto market has constantly been losing terrain in recent years after the record scored in 2012.

Indeed, in the last two years the new vehicles market declined and in 2017 hit a negative peak, with 8,783 sales, down 3.3% from the previous year. 

After several discussions regarding the opportunity to define more strict rules for the import of used vehicles, no actions had been taken so far by the government, and the new vehicle sales are penalized by the still huge bulk of used imported vehicles market.

In 2018, the market marginally recovered, with sales at 9,379 , up 6.8%. However, in 2019 registrations fell again, leading to 8,044 full-year sales, down 14.2%.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 6.139, reporting a decline of 23.7% compared to 2019.

In 2021 the year started positively for the El Salvador market, in fact, in Q1 2,730 units have been sold, reporting a 37.3% increase in sales compared to Q1 2020, and in Q2 sales started growing quickly, reporting a 257.6% increase in sales with 2,217 units sold due to the incredibly low sales volume registered in Q2 2020.

In Q3 sales rose 53.2% with 2,472 sales, followed by a 41.5% increase in sales with 2,713 units sold.

Indeed, Full-Year sales for 2021 have been 10,132, reporting a 65.5% increase compared to 2020.

Brand-wise, this year the leader Toyota (+84.4%) gained 2.1% market share, followed by Chevrolet (+89.9%). Nissan (+72.4%) was in the third position and gained 0.6% market share.

The most sold model in the country is the Chevrolet Spark with 1,332 sales (+104.9%), holding 17% market share.

Market Trend

Martinique’s car market this year recovered very effectively from the pandemic crash and reported a positive performance in Q2 and Q4.

The market was quite stable around the 15,000 annual units and after a slow period, with 2015 hitting the lowest level in 15 years, the return of strong consumer demand is sustained the market, and 2018 signed the second consecutive all-time record, with 15,862 sales, up 6.5%  from the previous year. The island is a French territory and this is clear walking on the roads, as the most of circulating cars are made in France.

In 2019 17,912 units have been sold, reporting a 12.9% increase and signing a new all-time record for the market.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 13,223, reporting a 26.2% decrease compared to 2019.

In 2021 the year started negatively for the Martinique market, in fact, in Q1 3,616 units have been sold, reporting a 15.1% decrease in sales compared to Q1 2020, while in Q2 sales started growing quickly, reporting a 104.7% increase in sales with 3,679 units sold due to the incredibly low sales volume registered in Q2 2020.

In Q3 sales dropped again 18.9% with 2,752 units sold, but recovered in Q4 by rising 49.9% with 5,662 units sold.

Indeed, Full-Year sales for 2021 have been 15,709, reporting a 18.8% increase compared to 2020.

Brand-wise, this year the leader Peugeot (+28.7%) gained 1.4% market share, followed by the previous leader Renault (+10.5%) which lost 1.8% market share. Citroen (+30.5%) was in the third position and gained 1.1% market share.

The most sold model in the country is the Peugeot 208 with 1,239 sales (+34.2%), holding 9% market share.

Market Trend

Jamaica’s car market this year kept growing slowly, and reported a positive performance in Q2 and Q3.

The market has been quite stable between 5,000 – 6,000 annual sales. After hitting the best in 2015, with 6,576 units, the trend embarked on a negative path, and in 2017 the market fell down for the second year in a row, at 5,376 units, down 5.7% from the previous year.

In 2019 the market performed very well, ending the year with sales at 7,176.

Despite the COVID-19 Pandemic full-Year sales for 2020 have been 7,601, reporting a 5.9% increase compared to 2019.

In 2021 the year started slightly negatively for the Jamaican market, in fact, in Q1 1,942 units have been sold, reporting a 2.1% decrease in sales compared to Q1 2020, while in Q2 sales started growing again, reporting a 9.1% increase in sales.

In Q3 sales kept growing (+3.1%), followed by a 0.7% decrease in sales in Q4.

Indeed, Full-Year sales for 2021 have been 7,768, reporting a 2.2% increase compared to 2020.

Brand-wise, this year the leader Toyota (+5.1%) lost 1.3% market share, followed by Kia (+1.8%) which lost 0.1% share. Volkswagen (-3.7%) was in the third position and lost 0.6% market share.

Market Trend

Bermuda’s car market this year recovered very effectively from the pandemic crash and reported a positive performance in all quarters.

The domestic vehicles market is small, with just a 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 a new all-time record, selling 1,433 units, up 4.1%.

In 2019, the market is holding a stable trend. Indeed, sales have been 1,436, setting by just 3 units a new all-time record again.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 1,123, reporting a decline of 21.8% compared to 2019.

In 2021 the year started positively for the Bermuda market, in fact, in Q1 377 units have been sold, reporting a 17.4% increase in sales compared to Q1 2020, and in Q2 sales started growing quickly, reporting a 78.1% increase in sales with 349 units sold due to the incredibly low sales volume registered in Q2 2020.

In Q3 sales kept growing (+90.1%) with 481 units sold, followed by a 49.6% increase in sales in Q4 with 528 units.

Indeed, Full-Year sales for 2021 have been 1,735, reporting a 54.5% increase compared to 2020.

Brand-wise, this year the leader Kia (+37.2%) lost 0.9% market share, followed by Toyota (+49.7%), which gained 0.9% share. Renault (+115.4%) reached the third position and gained 3.6% market share.

Market Trend

Cuba’s car market this year recovered very effectively from the pandemic crash and reported a loss of sales only in Q4.

As no retail operations are yet allowed in the country, the state corporation CIMEX is the only one in charge of selling vehicles.  New vehicles are sold for private customers applying an 800% tax and a 1,500% tax for used vehicles.

Just a few units (less than 10% of the total) are privately purchased and the rest is split by State companies – including public taxis – and rental for tourists.

The 2018 full-year sales have been revised to a level of 4,500 units, which represents the record level and a marginal increase from the previous years.

In 2019 the market plummeted severely, with only 3,015 units registered as the huge level of duties are imposed over import which gave to the cars sold in this Caribbean market the record of the highest price in the World, with a mid-size car costing more than a 100 square meter flat.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 1,560, reporting a 48.3% decrease compared to 2019.

In 2021 the year started positively for the Cuban market, in fact, in Q1 600 units have been sold, reporting a 10.1% increase in sales compared to Q1 2020, while in Q2 sales kept growing due to the incredibly low levels of the previous year, reporting a 302.7% increase in sales.

In Q3 529 units were sold, reporting a rise of 69%, while in Q4 the market dropped 13.2% with only 480 units sold.

Indeed, Full-Year sales for 2021 have been 2,209, reporting a 41.6% increase compared to 2020.

Brand-wise, this year the leader Peugeot (+23.8%) lost 2% market share, followed by Kia (+64.8%), which gained 3.4% share. BYD (+22.8%) was in the third position and lost 1.6% market share.

The most sold model in the country is the Renault Sandero with 152 sales, holding 14.7% market share.

Costa Rica’s auto market in 2021 rises by 16.9% with 27,140 sales, reporting an increasingly better performance quarter after quarter. Toyota remains the undiscussed leader, gaining 10.1% with 23.9% share.

Market Trend in September

Costa Rica’s car market this year recovered effectively from the pandemic crash and reported an increasingly better performance quarter after quarter.

The auto market in 2017 pushed the brake after three consecutive all-time records with total vehicle sales at 51,875 units, down 13.0% from the previous year. In 2018 the market trend worsened, ending the year with sales at 39,530, down 20% from 2017.

In 2019 registrations are still declining but at a slower speed. Indeed, full-year sales were at 34,515, down 12.7%.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 23,210, reporting a 32.8% decrease compared to 2019.

In 2021 the year started negatively for the Costa Rican market, in fact, in Q1 6,233 units have been sold, reporting a 27.6% decrease in sales compared to Q1 2020, while in Q2 sales kept growing due to the low levels of the previous year, reporting a 18.1% increase with 6,599 units sold.

In Q3 the growth accelerated, gaining 31.1% with 6,608 units, and this trend was maintained in Q4 with 7,700 sales (+93.8%).

Indeed, Full-Year sales for 2021 have been 27,140, reporting a 16.9% increase compared to 2020.

Brand-wise, this year the leader Toyota (+10.1%) lost 1.5% market share, followed by Hyundai (+24.7%) which gained 0.8% market share. Nissan (+19%) was in the third position and gained 0.2% market share.

The most sold model in the country is the Toyota Hilux with 3,755 sales (+6.6%), holding 13.8% market share.

Market Trend

Dominican Republic’s car market this year recovered effectively from the pandemic crash despite reporting a positive performance in all quarters except for Q4.

The new vehicle market had reported a strong increase in 2016 when the new all-time record was established at 24,396 units. In 2017 sales declined back at 21,425 units (-16%) and were more in line with the average volume in this decade. In 2018, registrations reported a shy recovery. Indeed, the year ended with sales at 21,300, up just 1.3%.

However, in 2019 the market went back on a negative track. Indeed, Year to Date November sales have been 19,288, projecting the full year to 20,996, down 1.5%.

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 13,318, reporting a 36.6% decrease in sales compared to 2019.

In 2021 the year started very positively for the Dominican Republic market, in fact, in Q1 4,773 units have been sold, reporting a 12.8% increase in sales compared to Q1 2020, while in Q2 sales started growing quickly, reporting a 598.5% increase in sales with 4,785 units due to the incredibly low volumes in Q2 2020.

In Q3 sales grew 35.3% with 4,654 units sold, while in Q4 sales declined by 22.8% with just 3,831 units.

Indeed, Full-Year sales for 2021 have been 18,043, reporting a 12.8% increase compared to 2020.

Brand-wise, this year the leader Hyundai (+50.2%) gained 0.2% market share, followed by Toyota (+52.3%), which gained 0.1% share. Kia (+51.9%) was in the third position.

The most sold model in the country is the Kia Sportage with 2,633 sales (+52.1%), holding 14.6% market share.