Sojitz
acquires full ownership of PETROAUTOS SA in Panama
Source:
HYUNDAi
Sojitz
Corporation (“Sojitz”) has acquired full ownership of Petroautos, S.A.
(“Petroautos”), an authorized Hyundai brand dealer in Panama engaged in the
import and distribution of Hyundai vehicles.
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 consumer demand attributable
to continued population growth and economic development.
Petroautos is
an authorized Hyundai brand importer and operates nine retail outlets in
Panama. From import and retail to after-sales, Petroautos offers comprehensive
services through its company network. The company has built a strong customer
network based on its advanced business proposal capabilities and high-quality
after-sales services. In 2024, Hyundai boasted the third highest sales of new
vehicles by brands in the country.
Sojitz has
over 50 years of experience in the automotive distribution and retail business
across more than 50 countries. Through this recent acquisition of Petroautos,
Sojitz aims to provide a high level of customer service in Panama and pursue
further growth in Panama’s automotive market.