Fleet Purchases Push New-Auto Sales up Again in May
SAN JUAN–For the second month in a row, fleet purchases spearheaded a positive increase in new-auto sales in May, the United Automobile Importers Group (GUIA by its Spanish acronym) announced Wednesday.
According to GUIA, some 6,828 new units were sold last month, a 4.3%, or 282 additional new units than May 2015. Year to date sales as of last month amounted to 32,283 units, up 0.8%, or 258 more units than same period last year.
In January, new-auto sales fell a whopping 12.1%, the worst January ever on record for the local auto industry. In February, new-auto sales dropped 4.3%, while in March new-auto sales fell 5.6%, but jumped a whopping 25.4% in April.
The island’s auto distributors closed last year down 7.8%, with 81,357 units sold—the local auto industry’s second worst year on record.
“May represents the second consecutive month of positive sales, a feat not seen since August of 2013. Just like in April, fleet sales experienced a 13.4% growth in May when compared with May of last year, which contributed to the increase in new-auto sales during the month. Year to date, fleet sales are up 13.3%, while retail sales remain in negative territory, down 0.3%,” commented Ricardo García, president of GUIA.
Given the auto dealers’ aggressive sales efforts, prevailing low interest rates and gasoline prices, García reiterated this is the best to time to purchase a new vehicle.
“We hope this trend continues,” he added.