Puerto Rico’s new car sales up 9.7% Y-O-Y in August, GUIA reports
In August, 11,000 new vehicles were sold in Puerto Rico, marking a 9.66% increase compared with the 10,031 vehicles that rolled off the lots in the same month last year, according to a report by the United Automobile Importers Group (GUIA, in Spanish).
The accrued figure for the first eight months of this year totaled 83,630 units, reflecting a slight accumulated decrease of 0.59% versus the 84,125 units sold in the same period in 2022.
“We continue to see a favorable trend of product supply in most brands that cover the local market, which has allowed a greater flow of vehicles to fleet operations than last year, while reflecting a reduction in retail sales,” GUIA President José R. Ordeix pointed out.
Fleet sales reflected a sharp rise of 95.59% in the January-August period, with 6,637 units in 2023 versus the 3,206 units in 2022. However, retail sales declined by 4.85% with 76,993 units sold this year, compared with the 80,919 units for the same period last year, Ordeix added.
Through August, the top-selling categories were Compact SUVs with 3,432 units, Subcompact SUVs at 1,485 units and Subcompact sedans with 1,318 units. Japanese vehicle sales, led by Toyota, reached 5,441 units over the eight months, while Korean vehicles, led by Kia, represented 2,902 units sold.
GUIA is an independent, nonprofit organization that was established in 2006 to address issues that directly concern the automotive industry, as well as issues related to Puerto Rico’s economy as a whole.