Las ventas de automóviles nuevos en Puerto Rico caen un 101 % interanual en octubre.
Through October 2024, cumulative new car sales reached 99,480 units.
Puerto Rico’s new car dealers sold 9,788 units in October, a 10.1% decrease compared to the 10,896 vehicles sold in October 2023, the United Automobile Importers Group (GUIA, in Spanish) reported.
Through October 2024, cumulative new car sales reached 99,480 units, down 6.03% from the 105,869 units sold in the same period in 2023, according to GUIA.
Breaking down the January-October period, retail demand stood at around 91,090 units, a 5.73% decrease from 96,629 units in the same period of 2023. Fleet sales reached 8,390 units, reflecting a 9.2% decline compared to 9,240 units sold in 2023.
“There continued to be a marked contraction in demand over the past four months due to reduced fleet sales and the uncertainty caused by the electoral process that just concluded on Nov. 5,” said José R. Ordeix, president of GUIA.
“We expect an improvement in retail sales during November and December, driven by the introduction of new models and the application of the first interest rate adjustment, and we expect to see a peak in fleet sales for the Christmas season,” he added.
When looking at the types of vehicles sold last month, GUIA’s report shows that compact SUVs outpaced all categories, with 3,169 units going to new owners. Subcompact SUVs followed with 1,741 sold, and subcompact sedans rounding out the top three, with 1,031 units sold.
Japanese brands, led by Toyota, Nissan and Mitsubishi, accounted for 46% of all units sold. Korean brands Hyundai, Kia and Genesis sold 2,758 vehicles, while U.S. brands represented 1,804 units.
GUIA is an independent, nonprofit organization that was created in 2006 to address issues that directly affect Puerto Rico’s automotive industry and broader economy.
I am not surprised .Government should lower the arbitrios and the dealers should not be so greedy with the amounts charged over the MSRP..