Car sales on the island are slowing down


The United Group of Automotive Importers (GUIA), an organization representing the automotive industry in Puerto Rico, released its October 2021 new car sales results, which ended in Puerto Rico sales of a total of 9283 units, compared with Puerto Rico sales. this month of last year – 10 669 people, which is 12.99% less than in the previous year.

One segment that saw significant monthly declines was the Mini Compact segment with a 40.50% drop, followed by the sport and sport Premium segment with a 27.59% drop and the minivan segment with a 24.02% decline from last year. However, the sedan segment is up 131.75% this month over the same month last year.

“It is clear that the water is reaching its level, as for the fifth consecutive month sales of the month have been declining from the previous month. This is mainly due to two reasons: firstly, federal funds have been cut for consumers and they have less money, and secondly, stocks in dealerships are still very limited due to a shortage of computer chips, which is a global problem and this is expected to last for a while, “said GUIA President Ricardo M. García. the environment is favorable with historically low interest rates, ”said Garcia.

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