The "Caribbean and Central American Automotive Outlook, 2024" report has been added to ResearchAndMarkets.com's offering.

This outlook analyzes the automotive industry in select Central American and Caribbean countries, including Panama, Jamaica, Trinidad and Tobago, Costa Rica, the Dominican Republic, Guatemala, El Salvador, and Honduras. It provides historical sales data for each of the countries from 2020, and forecast data runs through to 2030. The outlook also offers insight into country-specific growth strategies.

Most countries in the region recovered after the COVID-19 pandemic. The entry of Chinese OEMs and EV models has resulted in growth in unit sales in the region. Demand for SUVs continues to grow, and this trend will continue during the forecast period due to stable fuel prices and consumer-friendly banking and financial services. The penetration of battery electric vehicles (BEVs) alongside hybrid and electric vehicles will increase rapidly as all the OEMs in the region are introducing new models and launching their popular new EV models from global markets.

Legacy OEMs, such as Toyota, Hyundai, Kia, Nissan, and Honda, will face stiff competition from Chinese OEMs, such as BYD, especially in the entry-level BEV segments. Innovation in public-private partnerships to grow EV charging infrastructure, digital dealerships and online retailing strategies, and vehicle financing, including long-term loans, will be the key growth drivers during the forecast period.

Growth Opportunity Universe

• Increased Electric Vehicle Offerings
• Digital and Contactless Sales Processes
• Regulatory Push

Key Topics Covered:

Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top 3 Strategic Imperatives on the Central American and Caribbean Automotive Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

Growth Environment

• Key Findings: A Recap of 2023
• Top Predictions: 2024-2030
• Automotive Industry Outlook by Country

2024 Global Economic Outlook

• Top 10 Trends for 2024
• Top 10 Growth Opportunities
• Global GDP Growth: Mild Global Growth Slowdown from 3.0% in 2023 to 2.6% in 2024 as Key Economies Lose Growth Momentum
• Inflation and Interest Rates: Headline Inflation to Continue to Decline; H2 2024 Shift Toward Rate Cuts for Advanced Economies
• Currency Trajectory: Rate Cuts to Cap Upside Dollar Gains in H2; Weak Regional Growth to Weigh on Euro; Emerging Market Currencies to Get a Boost from Q3 2024 Onward
• Oil Markets: Q1 2024 OPEC+ Oil Production Cuts; Brent Prices to Average $83 to $85/Barrel
• Labor Market: Moderate Unemployment Uptick; Positive Expectations Over Market Sentiment to Support Labor Hoarding
• Critical Minerals Supplies: Need for Economic Resiliency to Bolster Cross-border and Cross-industry Partnerships Within Critical Minerals Supply Chains
• North America: Economic Slowdown Amidst Discretionary Spending Pullback and Elevated Interest Rates in North America
• Western Europe: Moderate Growth Pickup in Western Europe as Inflation Headwinds Ease Gradually; Rebuilding Fiscal Buffers to Take Precedence
• Middle East: Non-oil Growth Driven by Economic Diversification to Limit the Pullback Caused by a Slowdown in Global Oil Markets in the Middle East
• Asia: Emerging Economies to Drive Growth Momentum in Asia; Fiscal Measures to Support Chinese Economic Recovery
• List of Countries, 2024

Research Scope and Segmentation

• Research Scope
• Segmentation

Automotive Industry Country Analysis

• Panamanian Sales Outlook
• Panamanian Sales Forecast
• Panama, Key Growth Strategies, 2025-2030
• Jamaican Sales Outlook
• Jamaican Sales Forecast
• Jamaica, Key Growth Strategies, 2025-2030
• Trinidad and Tobago Sales Outlook
• Trinidad and Tobago Sales Forecast
• Trinidad and Tobago, Key Growth Strategies, 2025-2030
• Costa Rican Sales Outlook
• Costa Rican Sales Forecast
• Costa Rica, Key Growth Strategies, 2025-2030
• Dominican Republic Sales Outlook
• Dominican Republic Sales Forecast
• Dominican Republic, Key Growth Strategies, 2025-2030
• Guatemalan Sales Outlook
• Guatemalan Sales Forecast
• Guatemala, Key Growth Strategies, 2025-2030
• El Salvadorean Sales Outlook
• El Salvadorean Sales Forecast
• El Salvador, Key Growth Strategies, 2025-2030
• Honduran Sales Outlook
• Honduran Sales Forecast
• Honduras, Key Growth Strategies, 2025-2030

Conclusions

Best Practices Recognition

The Radar

Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/grto5i

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240806116661/en/