Central America

Syndicate content

Central America

An Increasingly Popular Regional Destination for U.S. Automotive Specialty-Equipment ProductsWith an estimated population of 42 million, Central America is an increasingly important regional market for U.S. goods. The Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) eliminates trade barriers among the seven signatories, which include the United States, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua. Before this regional trade pact, tariffs on U.S. autos and parts to the region had averaged from about 4% to 9% and even up to 30% on certain products. Most of these import taxes disappeared immediately with CAFTA-DR approval, and the rest will be eliminated by 2015.
SEMA News—July 2014

INTERNATIONAL
By Linda Spencer

Central America Automotive Parts, Accessories and Service Equipment Market

About this product:

The five CAFTA countries (El Salvador, Guatemala, Costa Rica, Nicaragua, and Honduras) have a large number of used vehicles on the roads every day because import taxes on new cars often make such purchases prohibitive. Consumers
therefore generally buy used models.

 

SEMA Members may get this content for free!

Regular Price:

$19.95

Add to calendar