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Puerto Rico’s new car sales dip 4.06% in March, GUIA reports

The United Automobile Importers Group (GUIA, in Spanish), which represents the automotive industry in Puerto Rico. has published the results of new car sales for March in Puerto Rico. The month ended with a total of 10,732 units sold in Puerto Rico, which compared to the number of cars sold during the same month last year, 11,186, represents a 4.06% decline.

One of the segments that was most affected was sports cars, whose sales decreased 46.58% compared to March 2022, followed by compact pickups with a decrease of 40.56%, and the segments of subcompact sedans with a decrease of 39.88% and compact sedans with a decrease of 38.82%, among other segments.

One of the most impacted segments during the month was sports cars, whose sales dropped 46.58% compared to March 2022. This was followed by the compact pickup segment with a decrease of 40.56%, and the subcompact sedan and compact sedan segments, which saw decreases of 39.88% and 38.82%, respectively, among other segments.

However, commercial van sales surged 509.3%, followed by the full-size SUV segment, which rose 113.04%.

The total sales for the first quarter amounted to 29,546 units, marking a 9.67% decrease compared to the 32,710 units sold during the same period in the previous year.

Established in 2006, GUIA is an independent, nonprofit organization focused on addressing issues concerning the industry and the island’s broader economy.

“The industry continues to experience inventory instability, but it is already reflecting some improvements compared to last year, with a slight recovery visibility for the next quarter,” GUIA President José Ordeix said.

In January last year, GUIA revealed that new car sales reached a record high in 2021, with 129,145 units sold. This figure represents a 36% increase compared to 2020 and the highest growth since 2005 when 140,400 units were sold.

The 2021 industry growth occurred despite the effects of the COVID-19 pandemic, the trade group officials said. The report presented by GUIA in 2022 notes that 95,020 units were sold in 2020. The 2021 results reflected their best sales peaks in March, April, and May, with 35,197 units versus 6,085 from the year prior.

Trade group officials noted that the 2021 industry growth took place despite the COVID-19 pandemic’s effects. GUIA’s 2022 report highlighted that 95,020 units were sold in 2020. The 2021 results were marked by sales peaks in March, April and May, with 35,197 units compared to 6,085 from the previous year.

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This story was written by our staff based on a press release.

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