Central America

Central America

The Toyota HiLux is a popular vehicle to customize in Central America. SEMA purchased a HiLux, which is popular elsewhere in the world but is not sold in the United States, so that SEMA-member manufacturers could measure the vehicle to create export-ready product. The international vehicle measuring session program is made possible through a partnership with the U.S. Department of Commerce. An Increasingly Popular Regional Destination for U.S. Automotive Specialty-Equipment Products

With 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.

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.


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