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Fewer new car units sold in 2022

Intelligent Economics > Analysis > Fewer new car units sold in 2022

The new car units sold total in Puerto Rico reached 10,516 in June 2022, that is 190 more cars (1.84%) than the previous month of May. This comes after a fall of -4.68% less cars sold from April to May. Compared to the same month in the previous year, June 2021, there was a -9.63% decrease of sales in June 2022. When compared to June 2019 sales are up 3.49%. In the first half of the year, there was a total of ​​64,385 units sold which is a -4.56% decrease from the first half of the year 2021. 

Source: GUIA

Analyzed by market by country: 

  • Korean Brands were the only ones that had an increase in sales compared to the previous years, with a 5.75% increase of new car units sold. Hyundai had a 36.43% increase in sales, while Kia (-30.58%) and Genesis (-26.67%) had a decrease. 
  • United Stated brands saw the smallest decrease in sales with -2.95% less sales when compared to the previous year. GM had the largest increase in sales with 27.27% followed by Ford who had a 2.72% increase. Chrysler sales decreased 13.41%. 
  • European brands had a decrease in sales of -16.61%. The brand with the largest increase of sales was Volvo with 386.67% more new units sold. Mercedes and Lamborghini had no change in sales when compared to last year. The largest decreases were Mini (-85.37%) and Jaguar with (-80%).
  • Japanese brands had an overall decrease of -18.04%. Acura had the largest decrease in sales with a -78.90% less, followed by a  -62.90% decrease for Honda. Lexus had a 22.73% increase in sales.

Top Models Sold in June: 

  • Toyota Rav4
  • Hyundai Accent 4
  • Toyota Corolla
  • Toyota Corolla Cross
  • Kia Seltos

In the year 2022 new car sales seem  to be decreasing overall. In the month of June 2022 most brands and market countries saw a decrease in new car unit sales. Though sales were extremely high for the first half of the year in 2021 and later decreased, if sales stay consistently at this level for the rest of 2022 there might be an overall increase in the yearly total of sales by the end of 2022, when compared to 2021.

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