Tuesday 4 October 2022

Motorcycle Boom in Nicaragua

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04 October 2022 - At The Banks - BCCR

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TODAY NICARAGUA – In 2015 55,000 motorbikes were sold and importing companies plan to increase sales by 11% during 2016 to reach 62,000 units.

An article on Elnuevodiario.com.ni reports that “… Sales of these vehicles in the Nicaraguan market reached a volume of 55,000 units in 2015, representing the best commercial result since 2008 and an increase of 23% compared to 2014, according to the Nicaraguan Association of dealers of Motor Vehicles (Andiva). Another piece of data that confirms the dynamism of the motocycle sector is the Survey Measuring Living Standards 2014, which revealed that motorcycle ownership increased from 2% in 2005 to 11% in 2014, achieving growth of 513% between those years.”

“… Statistics compiled by the Central Bank of Nicaragua (BCN) show that in 2015 the country paid US $46.568 million for imports of motorcycles, more than US $9 million in 2014, when the cost of importing this type of vehicle reached US $37,313.6 million. ”

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Even considering the rapid increase in recent years in the motorcycle fleet, motorcycle numbers in other Central American countries suggest that the Nicaraguan market for these vehicles will continue to grow.

More Nicaragua news at TodayNicaragua.com

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Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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