Automobile Sales Increase by 13.5% in September

Intelligent Economics > Analysis > Automobile Sales Increase by 13.5% in September

A total of 9,570 new automobiles were sold in September 2021 in Puerto Rico, a 1,138 unit or 13.5% increase when compared to September 2020.  When compared to August 2021 sales decreased by 1,1,85 units or 11.2%.  Despite sales decreasing when compared to the previous month, they remain well above pre-pandemic levels with September 2021 registering the highest number of sales for that specific month since 2013.

The top-selling brands in September 2021 where Hyundai (2,241 units) , Toyota (1,869 units) , Ford (1,204 units) , Nissan (1,113 units)  and Chrysler (873 units).  Meanwhile the fastest growing brands in terms of sales where Mazda (+76.4%), Volvo (+60.9%), Honda (+32.4%), Nissan +(28.7%) and Toyota (+20.5%)

The increase in sales can be attributed to historically low interest rates as well as government stimuli brought by the COVID-19 pandemic.  On the other hand, one should remain vigilant as disruptions on the global supply chain have severely affected the automobile industry in recent months, with major manufacturers like for being forced to reduce production.  These disruptions in the global supply chain are mainly driven by the microchip shortage as well as volatile prices for raw materials.  Despite this, overall automobile sales throughout the island have performed well during the past couple of months.

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