Friday, May 7, 2021

Fleet Purchases Push New-Auto Sales up Again in May

By on June 9, 2016

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.

PARK RIDGE, IL - MAY 24: New Chevrolet Impala cars are seen at Bredemann Chevrolet May 24, 2006 in Park Ridge, Illinois. General Motors has offered gas reimbursement for automobiles purchased in Florida and California before July 5, for gas prices above $1.99 per gallon, and will credit the customer for the additional cost. The Chevrolet Impala is one of the vehicles. (Photo by Tim Boyle/Getty Images)

(Photo by Tim Boyle/Getty Images)

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.

 

  

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