Puerto Rico car sales up 9.3% Y-O-Y in June, limited by chip shortage
The United Automobile Importers Group (GUIA, in Spanish) confirmed that Puerto Rico’s new car sales grew by 9.3% in June, when compared to the same month in 2020, with 11,636 units sold in comparison to the 10,648 new vehicles that rolled off lots in June 2020.
“Given that June of last year was the first month during the pandemic that we were able to open the entire month, it confirms what we expected, that the growth margins would begin to shrink, and their levels are falling,” said GUIA President Ricardo M. García.
During the first semester of the year, the sector is not reflecting the “historical pace” it was keeping after full COVID-19 lockdown restrictions were lifted, he said.
The issue of the shortage of computer “microchips” for vehicles has “severely limited inventory and growth,” he said.
“What is still fueling a slight growth is the influx of federal funds. The concern remains with what will happen when they run out and how much the industry will be impacted again. That is going to have to be addressed,” he said.
In terms of vehicle segments, SUVs with a 60.22% growth, continued to dominate sales during the month of June, followed by pick-ups, with 13.32%, according to GUIA’s numbers.
GUIA is an independent, nonprofit organization that was created in 2006 to address matters that directly affect the automotive industry, as well as matters related to the Puerto Rico’s general economy.