New car sales in PR in February up 5.4% YoY
The United Automobile Importers Group (GUIA, in Spanish) confirmed that new car sales were up 5.47% in February, when 11,117 units were sold in Puerto Rico compared to sales for the same month last year of 10,540 units.
The demand during January and February totaled 21,524 units, which reflects a growth of 4.35% when compared to the same period in 2021, the trade group stated.
In February, fleet sales accounted for 5.82% of total sales, equivalent to 648 units. During the first two months of this year, fleet sales have contributed 4.48% to overall sales, showing a growth in sales in that segment.
“Despite the challenges that still persist in the industry regarding the shortage of certain important manufacturing components, the industry in Puerto Rico continues to reflect a solid performance,” said the President of GUIA, José Ordeix.
“The impact of the war between Ukraine and Russia and its possible consequences are still difficult to predict,” said Ordeix.
“However, we know that the effects on fuel costs, the inflationary process we’re experiencing and the effect of the lack of some components necessary for the manufacture of cars will have some repercussion at some point,” added Ordeix.
One of the segments that showed the highest growth during the month of February was the sport premium segment with an increase compared to the same month last year of 76.4%, followed by the pickup segment with an increase of 37.7%.
However, the minivan segment had a decrease of 59.8%, followed by the vans segment with a decrease of 44% and the compact mini with a decrease of 40.8%.
GUIA is an independent, nonprofit organization that was created in 2006 to address issues that directly concern the automotive industry, as well as issues related to the general economy of Puerto Rico.
