Puerto Rico new car sales up 20% Y-O-Y in October
A total of 11,174 new cars were sold in Puerto Rico in October, representing a 20.4% increase from the 9,281 units sold during the same month last year, the United Automobile Importers Group (GUIA, in Spanish) confirmed.
Cumulatively, the demand in Puerto Rico for the January-October period totaled 103,375 units, which reflects a decrease of -4.27% when compared to the same period in 2021.
The segments with the highest growth were compact mini, sport, pick up and minivan with increases of 160.61%, 50.79%, 46.41% and 46.32%, respectively, compared to the same month in the prior period.
However, the segments that reflected a significant drop in sales were mid-sized sedans and commercial vans, with a decrease of -60.96% and -47.62%, respectively, the trade group stated.
“During the month of October we saw a slight improvement in the availability of inventory in some brands, which benefited the supply of short-term rental companies,” said GUIA President José R. Ordeix.
“On the other hand, the results for the year-to-date still don’t exceed the sales of the prior year due to the shortage of inventory, a situation that is expected to continue in the coming months,” he said.
GUIA is an independent, nonprofit organization that was created in 2006 to address issues that directly concern the automotive industry, as well as issues related to Puerto Rico’s general economy.