Auto Sales, Money

The United Group of Automobile Importers (GUIA by its Spanish acronym), an organization that represents the automotive industry in Puerto Rico, today presented the results of new car sales for May 2021.

The month ended with a total of 12,686 units sold in Puerto Rico, which is 10,020 more than in May 2020, and 1,871 more than April 2021. In other words, demand for new vehicles -which had been briefly stalled last year over the COVID-19 pandemic- continues to grow. In fact, May 2021 showed the second-highest auto sales recorded since 2016, narrowly beat by December 2018, when 12,702 sales were reported.

"In segments, SUVs continue dominating sales with 57.24 percent," GUIA President Ricardo M. García stated. "We continue with the collective concern of all sectors involved with the automotive industry with the high levels of shortage of microchips, components for the manufacture of vehicles that worldwide will have a direct effect on inventory availability. Even so, we remain confident that an environment will be maintained to supply consumers with a large variety of cars, accompanied by low interest rates and aggressive offers."

As reported by THE WEEKLY JOURNAL, gargantuan demand worldwide has propelled a global microchip shortage, affecting a variety of industries. García explained to this paper that all international car manufacturers are making adjustments in their production lines because microchips are used in multiple car parts, such as GPS devices and even power steering and brakes.

Moreover, GUIA informed that it offered its second seminar of 2021 and eleventh overall of the GUIAEduca educational series regarding topics of interest for the local automotive industry. The seminar featured Rep. Jenniffer González, Puerto Rico's resident commissioner in the U.S. Congress; Edan Rivera, secretary of the Department of Consumer Affairs (DACO), and Yasmín Roger, senior partner for Facebook at Cisneros Interactive Puerto Rico.

GUIA is a nonprofit, independent organization created in 2006 with aims to address issues that have a direct impact on the local auto industry, as well as issues pertaining to Puerto Rico's economy.

View the full report below:

Auto demand keeps growing, while the industry is reeling the impact of the global microchip shortage.

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