Puerto Rico new car sales grow slightly Y-O-Y in June
The United Automobile Importers Group, known as GUIA in Spanish, confirmed that Puerto Rico’s new car sales grew slightly in June, breaking with several months of negative results
The sector reported 10,635 units sold in contrast to sales for the same month last year of 10,158, representing a slight increase of 4.7%. However, so far this year the industry maintains a reduction of 38.4%, the group confirmed.
“As we had been anticipating, after a 10-week shutdown in sales due to the [government’s] Executive Orders, we saw how the accumulated demand of that period, coupled with federal funds available to people, aggressive offers and low interest rates offered by dealerships, resulted in a positive result,” said GUIA President Ricardo García.
“However, in the first half of the year, we had results of almost 40% below [the prior year] and in the case of rental companies, there was a 76.7% reduction,” he said.
“The situation remains precarious both for our industry and for the ecosystem that thrives on it. We’ll continue to monitor how these conditions will roll out in coming months,” García said, adding it is “still a good time to buy a new car, safely.”
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 Puerto Rico’s general economy.
