The United Automobile Importers Group (known as GUIA for its initials in Spanish) confirmed Monday that the downward spiral that Puerto Rico’s car industry has been on this year continued in May, when sales were down 6.7 percent year-over-year.
Automotive sales in Puerto Rico and the U.S. Virgin Islands went into a freefall last month, when results were down 15 percent in comparison to the same month last year, the United Automobile Importers Group (known as GUIA for its initials in Spanish) informed Tuesday.
The Federal Deposit Insurance Corporation has warned Doral Bank that it may no longer include in its calculation of its Tier 1 Capital some or all of the tax receivables from the government, which represented $289 million of the bank’s approximately $679 million of Tier 1 Capital at Dec. 31, 2013.
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