New car sales show 6.3% increase in June, vs. same month in ’18, GUIA says
The United Automobile Importers Group announced that a total of 10,200 new cars were sold in Puerto Rico last month, representing a 6.3% increase vs. the 9,596 units sold during the same month in June 2018.
GUIA, as the trade group is known by its initials in Spanish, said the increase so far this year totals 2,182 additional units, or 4.4% more than in 2018.
The increase in sales during the month of June responds to an increase in fleet sales, which represented 23.9% of the month’s total sales, the group said.
“The good news is that the month of June ended in positive territory, after two consecutive months below the previous year,” said Ricardo M. García, president of GUIA. “However, the growth was due to an unusual increase of 106.3% in fleet sales.”
In contrast, retail sales decreased by 7.8%. So far this year, fleet sales have grown by 29.7% and retail sales by 2.2%, according to the report.
This “indicates that there is more confidence in the tourism and tourism sector and daily rentals vs. the pattern of sales to the local consumer,” he said.
“What the island needs is greater economic stability, so that investments by private companies continue, eliminating all those elements that create uncertainty, so consumer confidence increases, and Puerto Rico’s progress is achieved in a solid and sustainable manner, not looking at it from month to month,” García said.
In June, the segments that showed an increase compared to the same month last year are the minivan segment, with 54.5%, followed by the sub-compact sedan segment, with 11.8% and the SUVs segment, with a 9.2% increase. So far this year, the fastest growing segments are SUVs and vanss with increases of 15.2% and 12.3%, respectively.
GUIA is an independent, nonprofit organization that was created in 2006 to address issues directly related to the automotive industry, as well as issues related to Puerto Rico’s general economy.
The members of GUIA represent 23 car brands and more than 96% of the total sales of new vehicles in Puerto Rico.