Despite upturn, 2020 total still down 28%
SAN JUAN – The United Automobile Importers Group (GUIA by its Spanish acronym), which represents Puerto Rico's auto sector, disclosed its latest sales figures for July, when the industry sold 10,595 vehicles, a 38.8% increase when compared with the same month last year.
However, the higher July numbers were not enough to offset an overall downward trend so far this year, with sales trailing by 28.4% to date.
The vehicle segments registering the greatest growth in sales included vans, with a 78% increase; minivans, with 74.4%; sport utility vehicles, with 69.6%, and pickup trucks, with 48.7%.
“For the second straight month, we have noticed how auto demand has remained positive, mainly due to the federal assistance that reached local consumers, specifically in July when compared to the previous year, in which protests across the island (due to then-governor Ricardo Rosselló's ongoing political scandal) affected sales, ”said GUIA President Ricardo M. García.
“ Although the current situation looks promising, there are still concerns about what will happen once the federal funds (for unemployment assistance due to the pandemic) run out, ”García added. "That said, now’s a great time to buy a car, due to interest rates still being historically low and the fact that dealerships and salespeople are as aggressive as ever with their offers."