Car sales up, in spite of public transportation spending

BILLIONS of  government dollars spent on improving public  transportation  has not stemmed the continued growth in car sales.

For the first 11 months of 2016,, sales of new vehicles  reached  61,455 units, according to figures compiled by the Office of the Comptroller General.

That means an increase of  1.934 units or 3.2%, compared to the same period of 2015.

The best-selling new vehicles in the country are sedans, coupe and vans.

According to official figures, 25,816 units of this type were sold during the first 11 months of 2016, according for  for 42% of the vehicles sold

SUVs alsocontinue  among the favorites of the Panamanian consumer. From January to November 2016, 18,099 units were sold, representing approximately 30% of all vehicles sold.

Roadworks
According to the Ministry of Finance the government will invest about $3 billion for  the development of Panama’s road network between 2015-2019.

Of this . $1,750 billion will be disbursed for the construction of new highways, the rehabilitation and maintenance of the interurban road network, among other projects.