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.
