Toyota, Lexus brands clinch 32% share of Puerto Rico auto market
As projected last year and despite the challenges of global inventory reduction, Toyota de Puerto Rico managed to maintain its leadership in car sales on the island, clinching a market share of 32% including Toyota and Lexus, company executives said.
In addition, the Japanese automaker reflected a 9% growth in parts compared to the previous year, positioning 2022 “as the best year for original parts sales and the best month in the history of accessories sales,” said Nancy Navales, vice president of Toyota de Puerto Rico.
The brand exceeded sales expectations for the year 2022 with 37,214 units sold, positioning it as the number one car brand in Puerto Rico, a ranking they have held since 1998, she said.
Toyota managed to increase sales by 18% compared to the previous year, with the list of best-selling models that included Corolla in its sedan version (9,371), Rav4 (8,513) and Tacoma (6,093).
“Last year was excellent and we appreciate the support of all customers who choose us over and over other brands over and over again,” she said. “Our commitment to quality, reliability and durability is the engine that moves us to evolve and improve ourselves every year. That commitment to continue offering them the best in driving and technology.”
Looking ahead, Navales stressed the brand’s commitment to “an electrified future” and mentioned that it is working aggressively to reduce carbon emissions.
“We’re building battery vehicles and other clean technologies in parallel with hybrid vehicles so that we can offer our customers a wide range of options that are carbon compliant. We believe this is the best approach to serve our customers who have different needs and resources while fighting our common enemy: carbon,” Navales said.
This year, Toyota will release several new models such as Rav4 Prime and Prius Prime, both featuring new technologies. In addition, they will launch a hybrid model of the Corolla Cross and the Crown, a new electric vehicle in the lineup. Another model that will soon be on the island is the Corolla GR.
“We’re confident that these new vehicles and existing models will keep us in the lead throughout this year,” Navales said.
Meanwhile, Lexus surpassed its sales records and the projections established for 2022, when it sold 1,382 cars, 21% more, compared to the previous year, “reflecting the best year in the history of Lexus in Puerto Rico and the second in a row,” she said.
The NX, in its gasoline, hybrid and plug-in models, managed to sell 555 SUVs followed by the IS model, which sold 277 cars during 2022.
“Lexus has grown extraordinarily in recent years and our projection is that this growth will continue. This year we come with new models that will solidify our position in the luxury segment market and will position us as one of the brands with the greatest selection by our customers,” said Navales.
This year, Lexus will unveil an RX Plug-In model that will expand the number of alternatively sourced models and technologies.
Navales noted the brand remains optimistic about exceeding 2022 sales.