Tuesday, July 5, 2022

New-Auto Sales Fell 10% in October

By on November 11, 2016

SAN JUAN–For the second month in a row, a drop in fleet purchases pushed new-auto sales down in October, but year-to-date sales still remained up with only two more months to finish the year, the United Automobile Importers Group (GUIA by its Spanish acronym) said Thursday.

In this Thursday, Sept. 24, 2015, file photo, Volkswagen cars for sale are on display on the lot of a VW dealership in Boulder, Colo. On Monday, Oct. 3, 2016, automakers release vehicle sales for September. (AP Photo/Brennan Linsley, File)

 (AP Photo/Brennan Linsley, File)

According to GUIA, some 6,135 new units were sold last month, a 10% decrease, or 728 fewer new units than October 2015. Year to date sales as of last month amounted to 66,563 units, up 2.4%, or 1,549 more units than same period last year.

Ricardo García, president of GUIA, said last month the local auto industry experienced significant loses.

“When comparing October sales of last year with this year, the sales decrease was of 10%. We once again are experiencing the sales decreases that have permeated over the past few years,” García commented. “It is an imperative and fundamental for our industry that we work hand in hand with the government in order to achieve a recovery for this important economic sector.”

Fleet sales, which had been spearheading an uptick in local new-auto sales in the previous months, fell 44.2% in October, as retail auto sales slumped 5.8%, García indicated.

During October, the 441 fleet units sold represented 350 fewer units than same month last year, whereas the 6,135 retail units sold last month were a 378-unit decrease from October of 2015.

Year to date as of October, there have been 60,103 retail units sold, up 2.2% or 1,296 units from same period last year, and 6,460 fleet units sold, up 4.1% or 253 units from same period in 2015, the GUIA report indicates.

Japanese brands down 4%

Japanese automakers, the dominant group in the local market, reported 3,928 total units sold in October, a 4% or 162-unit decrease from same month last year, with a 59.7% share of the market. Top Japanese sellers included Mitsubishi, Nissan, Subaru and Acura.

Domestics down 7.2%

Cumulative sales by domestic automakers FCA Group (Chrysler, Dodge, Jeep and Ram), General Motors (GMC, Chevrolet, Buick and Cadillac) and Ford (Ford and Lincoln) in October reached 1,053 units, down 7.2% from same month in 2015, with a 16% overall share of the market.

Of the three domestic automakers, only Ford reported positive sales in October versus same month last year. Ford sold 521 units, up 30.3% with a 7.9% share of the market.

Koreans down 26.7%

Korean carmakers Hyundai and Kia together sold 1,214 units last month, down 26.7% from same month last year, with a combined 18.5% market share. Both brands posted negative sales versus October of last year.

Europeans down 9.7%

European brands sold a combined 381 units during the tenth month of the year, down 9.7% from October 2015, with a 5.8% share of the market.

Only four European brands, namely Jaguar, Volvo, Mercedes-Benz and Volkswagen, reported higher sales in October than same month last year.


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