New car sales +3.8% YOY in P.R. in June, +1.4% so far
New car sales in Puerto Rico totaled 7,979 units in June, representing a growth of 3.8 percent over the same month in 2015, the United Automobile Importers Group (known as GUIA by its Spanish acronym), reported Monday.
Sales also showed a 1.4 percent growth during the first six months of the year, combined.
“June is the third consecutive month of sales growth after an extended period of more than 20 months in a tailspin. Even with the positive changes in total sales, the retail sales market, remained in negative territory last month, but this month entered positive territory with 0.2 percent growth,” said GUIA President Ricardo García.
“The fleet market, as has been the case in the past two months, continues to serve its stabilizing role in the totals, with double-digit growth of 16 percent. The latter is representing 25.5 percent of our total market,” he said.
“The auto industry and related industries, such as banking and insurance, continue joining forces to deliver very attractive offers to consumers. We insist that there has been no better time than in recent years to buy a new car as now,” García said.
GUIA is an independent, nonprofit organization, created in 2006 to address issues that are directly related to the automotive industry, and the general economy of Puerto Rico. GUIA members represent more than 96 percent of new-vehicle sales in Puerto Rico.
Always interesting to see how Puerto Rico ‘measures’ anything… Also, a % increase after a % loss will always look impressive, when in reality it may not be. The net-net should be reported alongside so a true YOY picture is presented in a transparent manner.