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Economic slowdown affects car sales in Panama

The forecast of the organization is that by the end of 2017 vehicles will be sold 10% less than the previous year
  • La Prensa

The Panama’s Association of Automobile Dealers (ADAP) assured that in the first eight months of the year 38,213 vehicles were sold, representing a contraction of 13.1% compared to the same period of 2016.

The forecast of the organization is that by the end of 2017 vehicles will be sold 10% less than the previous year.

The inter-annual slowdown in the January-July period had been 12.8%.

The ADAP, as analysts previously consulted, said that the fall in sales is due to the fact that consumption levels have decreased in different sectors, caused by the economic slowdown of the country.

The performance of the January-August period in 2016 compared to 2015 had marked an improvement of 7.5%, similar to the previous comparison with 2014.

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