Friday, March 24, 2023

Vehicle sales in Puerto Rico drop 16.3% in February 2023 compared to 2022

Vehicle sales in Puerto Rico last February decreased by 16.3% compared to the same month in 2022, reported the United Group of Automobile Importers (GUIA), an organization that represents the local automotive industry.

Thus, the month of February ended with a total of 9,309 units sold in Puerto Rico, in contrast to those of the same month last year with 11,117, which represents a decrease of 16.3%, GUIA explained in a press release.

“We continue to confront as an industry, challenges in the supply of the distribution chain. In the same way, we continue to monitor the effect of increasing interest rates and how this impacts consumer decisions and patterns for long-term purchases”, said José R. Ordeix, president of GUIA, in the note.

One of the segments that had an impact in the month was compact minis, with a 50.1% decrease compared to the same month last year, followed by sports, with a decrease of 41.3%, and medium-sized pickups. and large with a drop of 39.5%.

However, the minivan segment had an increase of 134.3%, followed by the commercial van segment with an increase of 33.3%.

“Despite the contraction reflected in February versus the previous year, February 2023 represents the best February for sales in the last 15 years, which gives us an indication that there is still active demand in the industry,” Ordeix said.

GUIA is an independent, non-profit organization that was created in 2006 in order to address issues that directly concern the automotive industry, as well as issues related to the general economy of Puerto Rico.


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