Sojitz Corporation (“Sojitz”) has acquired full ownership of Silaba Motors S.A. (“Silaba Motors”), a company primarily engaged in sales of Kia and Mazda vehicles, to enter the car dealership business in Panama.
【Exterior of car showrooms】
Established in 1991, Silaba Motors is an authorized automotive import wholesaler and dealership operator. Silaba Motors’ strength lies in its one-stop service offerings that span imports to retail of automotives and leverage company networks and sales services. Silaba Motors operates eight dealerships in Panama, and the company currently boasts the second highest annual car sales volume in the country in addition to a sales record of 170,000 units to date.
Panama is a key economic center and distribution hub in Central and South America, with top-tier growth potential in the region. Moving forward, Panama’s automotive market is expected to continue to expand with rising demand in the automotive sector attributable to continued population growth and economic development enlarging the country’s middle-class market.
Sojitz views Panama as a strategically important market in Central and South America and will pursue synergy with other automotive-related businesses in Latin America while simultaneously strengthening and expanding the automotive value chain further.
[Related Information]
Company Overview – Silaba Motors S.A.
| Established | January 1991 |
|---|---|
| Location | Calle 50 y 64, San Francisco, Panama |
| Representative Director | Jorge Diaz del Castillo Paredes |
| Main Business |
Automotive sales, after-sales services, and auto parts sales |
