Puerto Rico’s new car sales activity tumbles 9.3% in June
The movement of new cars off Puerto Rico’s dealerships took a tumble last month, when 10,516 units were sold, or a 9.3% drop from the 11,636 vehicles sold in June 2021, the United Automobile Importers Group (GUIA, in Spanish) confirmed.
Cumulatively, the demand in Puerto Rico for the January-June period amounts to 64,385 units, which reflects a decrease of -4.56% when compared to the same period in 2021, the independent, nonprofit organization stated.
However, in its monthly report, the organization confirmed that retail demand in the first half of 2022 reflected a variation of -1.24% when comparing the accumulated figure for 2022 of 62,091 units versus 62,876 units in the same period of the previous year.
The largest drop occurred in the fleet channel, where a contraction of -49.93% was registered last month, when comparing the accumulated figure for 2022 of 2,294 units versus 4,582 units in the same period of the previous year.
The minivan segment showed a marked decrease of -80.1% compared to the same month last year, followed by the vans segment, which showed a decrease of -78.9%, and sedans with a decrease of -24.4%. However, the compact mini segment showed an increase compared to the same month last year of 23.3%.
“Puerto Rico’s automobile industry continues to experience a decrease in inventories because of the dislocations that have affected the supply chain generated by the pandemic and other international factors,” Jose R. Ordeix-Llabaly, president of GUIA.
“Even though bank interest, inflation, and fuel costs have increased in recent months, the demand for cars continues to trend robustly,” he said.
GUIA was created in 2006 to address issues that directly concern the automotive industry, as well as issues related to Puerto Rico’s general economy.
The trade group lobbied for the “importance of consumers acquiring their new vehicles at authorized dealers of the brand of their choice to ensure the best service and honor all the guarantees available on their purchase.”
