Sunday, January 29, 2023

Auto Sales Jump 3.8% in June

By on July 12, 2016

SAN JUAN – Sales of new vehicles in Puerto Rico during the month of June increased 3.8%, with 7,979 new units sold—propelled mainly by strong fleet purchases, the United Automobile Importers Group (GUIA by its Spanish acronym) announced Tuesday.

Year-to-date sales of new vehicles as of June jumped 1.4% over same period in 2015, the group indicated.

This is good news for the local auto industry. After a prolonged period of more than 20 months of negative sales, the local auto industry experienced its third consecutive month of positive sales in June, noted Ricardo García, president of GUIA.

DAGENHAM, ENGLAND - JANUARY 13: Cars are prepared for distribution at a Ford factory on January 13, 2015 in Dagenham, England. Originally opened in 1931, the Ford factory has unveiled a state of the art GBP475 million production line that will start manufacturing the new low-emission, Ford diesel engines from this November this will generate more than 300 new jobs, Ford currently employs around 3000 at the plant in Dagenham. (Photo by Carl Court/Getty Images)

(Photo by Carl Court/Getty Images)

The retail auto market, which even with the positive changes experienced in total sales remained in negative territory in May, finally jumped into positive territory in June, with a 0.2% growth over same month in 2015. The auto fleet market, like the past two months, continues to serve as a market stabilizer in total sales, with a double-digit increase of 16% last month, representing 25.5% of the overall total new auto sales market,” García indicated.

The auto industry, as well as related industries such as auto finance and insurance, continue to work together to provide attractive offers to carbuyers, the GUIA president.

“We keep insisting there has been no better moment in the past few years to buy a new vehicle than now,” García added.

You must be logged in to post a comment Login