- This expansion marks the start of Astara's operations in Central America, a milestone in the group's regional consolidation strategy.
- The company strengthens its successful alliance with Volvo, expanding a collaboration model already established with the brand in Colombia.
Madrid, July 7th, 2026 – Astara, a leading global company specializing in efficient automotive distribution, has announced today its entry into Central America with the starts of operations in Panama as the new official distributor for Volvo Cars. This strategic move not only marks a milestone in the group’s regional expansion but also deepens its alliance with the Swedish origin premium brand, building on a successful model already proven in Colombia.
The arrival in Panama is a key step in Astara’s growth strategy, expanding its footprint in the region with a clear vision towards the development of new opportunities. With the goal of driving sustainable growth for the brand, Astara will roll out its business model, backed by its advanced technological and operational capabilities, developed over more than 45 years of experience in vehicle distribution.
Ignacio Enciso, CEO de Astara, adds: “The start of operations in Panama represents a significant milestone for Astara. It not only marks our arrival in Central America but also reinforces our excellent relationship with a strategic partner like Volvo. We are confident that our customer-centric model, combined with our focus on efficiency, data, and proprietary technology, will boost the Volvo brand in the country, creating a solid foundation for long-term growth."
Tarcísio Triviño de Oliveira, MD Volvo Car Latin America Importers, commented: "Our new partnership with Astara marks the beginning of a new chapter for Volvo Cars in the country. We are not only looking to strengthen our brand presence but also to establish ourselves as the undisputed benchmark in the premium segment. Driven by our core pillars of safety and sustainability, our goal is clear: to capture a 15% market share and lead the luxury electric market, reaffirming our commitment to advancing electrification in the country."
A strategic alliance in a dynamic and growing market, key to regional development
Astara’s expansion coincides with the steady growth of the Panamanian market in recent years, where SUVs account for nearly 90% of sales in the premium segment. This trend aligns perfectly with the renewal of Volvo's global portfolio, which leads the luxury segment in electrification thanks to its range of plug-in hybrids (PHEVs) and 100% electric models. Including the updated XC90, the new technological benchmark EX90, the highly successful XC60, and the model that has democratised access to premium electrification, the EX30. Creating an ideal landscape for the brand's growth in the country.
With this expansion, Astara reaffirms its commitment to regional growth, deploying its value proposition focused on efficiency, proprietary technology, data, and delivering a world-class customer experience, alongside representing world-renowned brands of the highest quality standards. In Panama, this means that during the transition period, customers can continue to visit their official Volvo workshop, with operations continuing without interruption.