Report Update: May 1, 2024

Costa Rica - Passenger Cars - Market Analysis, Forecast, Size, Trends And Insights

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Passenger Car Price in Costa Rica - 2022

Passenger Car Price in Costa Rica (CIF) - 2022

The average passenger car import price stood at $23,447 per unit in 2022, approximately reflecting the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, passenger car import price increased by +70.2% against 2013 indices. The most prominent rate of growth was recorded in 2017 an increase of 20%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($37,582 per unit), while the price for Indonesia ($17,092 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Passenger Car Price in Costa Rica (FOB) - 2022

In 2022, the average passenger car export price amounted to $12,157 per unit, dropping by -39.6% against the previous year. In general, the export price saw a slight contraction. The pace of growth was the most pronounced in 2013 when the average export price increased by 40% against the previous year. The export price peaked at $22,721 per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($36,000 per unit), while the average price for exports to the United States ($11,399 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports in Costa Rica

In 2022, approx. 28K units of passenger cars were imported into Costa Rica; picking up by 28% on 2021. Over the period under review, total imports indicated a notable expansion from 2019 to 2022: its volume increased at an average annual rate of +2.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, passenger car imports soared to $655M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Import of Passenger Car in Costa Rica (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	26.3	23.9	44.9	129	69.9%
Japan	98.4	52.6	54.3	107	2.8%
United States	74.1	57.0	71.5	67.5	-3.1%
South Korea	50.4	22.3	59.6	51.5	0.7%
Brazil	7.8	5.7	19.6	35.3	65.4%
India	38.9	21.2	21.9	34.6	-3.8%
Thailand	18.7	13.4	16.3	32.8	20.6%
Germany	25.5	14.6	19.9	30.9	6.6%
Mexico	30.0	23.1	26.5	28.2	-2.0%
Indonesia	12.2	6.3	14.3	27.9	31.7%
United Kingdom	21.5	14.9	12.2	24.6	4.6%
Argentina	N/A	N/A	N/A	23.1	0%
Hungary	17.3	11.4	12.6	21.5	7.5%
Others	123	97.1	130	40.8	-30.8%
Total	544	363	504	655	6.4%

Top Suppliers of Passenger Car to Costa Rica in 2022:

China (6.1K units)
Japan (3.5K units)
United States (3.2K units)
India (2.0K units)
South Korea (2.0K units)
Brazil (1.6K units)
Indonesia (1.6K units)
Thailand (1.4K units)
Mexico (1.2K units)
United Kingdom (1.1K units)
Germany (1.1K units)
Hungary (0.9K units)
Argentina (0.6K units)

Passenger Car Exports in Costa Rica

Passenger car exports from Costa Rica skyrocketed to 129 units in 2022, growing by 105% on the previous year. In general, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, passenger car exports skyrocketed to $1.6M in 2022. Overall, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2020 when exports increased by 103% against the previous year. As a result, the exports attained the peak of $2.5M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Passenger Car in Costa Rica (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	200	238	177	1,231	83.3%
Venezuela	N/A	N/A	N/A	108	0%
China	N/A	N/A	N/A	71.9	0%
Panama	114	567	N/A	37.0	-31.3%
Belgium	32.1	N/A	N/A	3.8	-50.9%
Spain	70.0	6.6	25.4	N/A	-39.8%
Guatemala	78.6	237	47.0	N/A	-22.7%
Senegal	438	239	206	N/A	-31.4%
Norway	N/A	910	484	N/A	-46.8%
Others	299	302	329	116	-27.1%
Total	1,232	2,499	1,269	1,568	8.4%

Top Export Markets for Passenger Car from Costa Rica in 2022:

United States (108.0 units)
China (3.0 units)
Venezuela (3.0 units)
Panama (2.0 units)
Belgium (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the passenger car market in Costa Rica. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29102100 - Vehicles with spark-ignition engine of a cylinder capacity. 1 .500 cm., new
Prodcom 29102230 - Motor vehicles with a petrol engine > 1 .500 cm. (including motor caravans of a capacity > 3 .000 cm.) (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
Prodcom 29102250 - Motor caravans with a spark-ignition internal combustion reciprocating piston engine of a cylinder capacity > 1 .500 cm. but . 3 .000 cm.
Prodcom 29102310 - Motor vehicles with a diesel or semi-diesel engine . 1 .500 cm. (excluding vehicles for transporting . .10 persons, s nowmobiles, golf cars and similar vehicles)
Prodcom 29102330 - Motor vehicles with a diesel or semi-diesel engine > 1 .500 cm. but . 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
Prodcom 29102340 - Motor vehicles with a diesel or semi-diesel engine > 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
Prodcom 29102353 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 1 .500 cm. but . 2 .500 cm.
Prodcom 29102355 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 2 .500 cm.
Prodcom 29102400 - Other motor vehicles for the transport of persons (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
Prodcom 29102410 -
Prodcom 29102430 -
Prodcom 29102450 -
Prodcom 29102490 -

Country coverage:

Costa Rica

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Costa Rica
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023