Industry Trend Analysis - Rising Incomes To Fuel Auto Loan Demand - AUG 2017
BMI View : Rising household incomes in Panama will continue to support a rise in auto loan demand and inform our positive outlook for new vehicle sales in the country.
Stable economic growth and rising household incomes in Panama will help drive growth in demand for auto loans in the country and will consequently lead to an expansion in the new vehicle market. We currently forecast total new vehicle sales in Panama to grow 3.4% in 2017, reaching 65,659 units, and to average annual growth of 6.5% over our 2017-2021 forecast period.
Growth In Auto Loans To Support Vehicle Sales
|Steady Growth Ahead|
|Panama - Total Vehicle Sales, Units|
|f = BMI forecast. source: GroupeRenault, BMI|