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July is PR’s 4th straight month of positive new car sales

Ricardo García, president of the trade group known as GUIA. Ricardo García, president of the trade group known as GUIA.

Puerto Rico’s new car sales remained on the positive side for the fourth straight month in July, when 6,644 units were sold, reflecting a 17.4 percent year-over-year increase, the United Automobile Importers Group (known as GUIA by its Spanish acronym), said Monday.

“We’re pleased with the way the auto market has been moving. Our industry, as well as our members have worked tirelessly to provide the best products,offers and services to the local consumer,” said Ricardo García, president of the trade group.

However, he said GUIA is vigilant of the local scenario, given that the fleet market has been driving the recent market growth, with a 46.8 percent year-over-year jump in July and a 17.5 percent cumulative increase so far this year, he said.

“We’ll remain on alert as to how the market will behave once this peak local tourism season ends,” García said.

According to GUIA’s statistics, last month, some of the brands that showed the biggest growth included: Toyota, with a 23.6 percent increase year-over-year; Honda, with a 20 percent year-over-year increase; and Hyundai, with a 61.5 percent increase when compared to the same month in 2015.

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.

Author Details
Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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