New car unit sales are up in April

Intelligent Economics > Analysis > New car unit sales are up in April

New car unit sales for the month of April 2022 totaled 10,833, only 19 units more (0.2%) compared to April 2021. This slight increase comes after falling 4.4% in the March due to inventory challenges. Compared to April 2019, sales are up 47.4%. In the first four months of the year, sales are 0.9% above the same period last year, and up 33.8% compared to 2019, according to Grupo Unido de Importadores de Autos (GUIA).

Analyzed by market by country:

  • Japanese brands increased 12.8% on average with Lexus increasing 50% and Toyota 46.4%, and Nissan decreasing by -45.3% and Subaru -51.6%.
  • US brands decreased sales by -7.9% with only Chrysler increasing sales by 10.1%, and Ford decreasing by -18.3%, and Kia by -49.9%.
  • Korean brand cars decreased sales by -16.1% with Hyundai remaining stagnant and Kia decreasing by -49.9%.
  • European brands decreased by -16.5% with Land Rover decreasing by -69%.

The biggest drop in sales was in the Full Sedan Premium segment (-74.7%), followed by Vans (-67.7%) and Minivans (-43.94%). However, the Compact Sedans segment had an increase of 32.5%, followed by the Sub-Compact Sedans segment with an increase of 24.1%.

Top models sold in April include:

  1. Corolla
  2. Rav4
  3. Tacoma Pick-Up
  4. Venue
  5. Tucson

In 2020, 95,019 cars were sold, 10.9% less than in 2019. The biggest drop in the last six years.

According to Intellligent Economics, the projection for 2022 is to sell 111,000 units, 14.1% less than this year, about 18,000 fewer cars. This projection represents the highest sales since 2006.

GUIA is an independent, non-profit organization that was created in 2006 to address issues that directly affect the automotive industry, as well as the general economy of Puerto Rico. GUIA members represent over 96% of the total sales of new vehicles in Puerto Rico.

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