Severe Drop in Sales for the Automotive Industry in July
The United Automobile Importers Group (GUIA), organization that represents the automotive indUstry in Puerto Rico has been forced to rethink their sales projections for 2014 for the second time this year, due to the dramatic drop in sales in the Island, which continues to worsen for this important economic sector. GUIA reported that sales volume for the Island during July 2014 was 6,324 units, which represents the sixth month on a row with decreased sales this year. This marked decrease, which is now double digits, reflects in -21.3% sales, which translates to 1,712 less units sold, compared to the same month last year.
The accumulated demand for Puerto Rico for the period between January to July 2014 is 51,071 units, which reflects a -10% decrease, compared to sales of 57,666 units registered during the same period in 2013.
“The auto industry is going through one of its most critical moments in the last five years. Consumer traffic in dealerships has dwindled significantly and therefore, we have seen a dramatic contraction, whch continues to intensify on a monthly basis. This was reflected in July, with a 21.3% drop in sales, both in retail and fleet sales. We haven’t seen such a low sales period since 2009, year in which the worst drop in sales volume was registered, with annual sales of 76,477 units. Considering the tendency that our market has portrayed, we are forced to reconsider, yet again, our demand estimate for 2014 to a volume of 85,000 units. Ths represents a -15.4% drop (15,559 less units), compared to last year”, commented José Ordeix, President of GUIA.
GUIA s an independent, not for profit organization that was created in 2006 with the purpose of tendig to issues that are directly related to the automotive industry, as well as Puerto Rico’s general economy. GUIA’s members represent ver 96% of total new vehicle sales in Puerto Rico.
El Grupo Unido de Importadores de Automóviles (GUIA), organización que representa la industria automotriz en Puerto Rico, informa que las cifras de ventas en la Isla para el mes de junio del 2014 alcanzaron las 7,814 unidades, lo
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