New car unit sales increase 5.5% in February

Intelligent Economics > Analysis > New car unit sales increase 5.5% in February

New car unit sales totaled 11,117 in February 2022, a 5.47% increase compared to February 2021 (10,540 units), and a 6.8% increase compared to January 2022 (10,407 units). this is the highest number of new car sales for the month of February. Total new car unit sales in February 2018 were 6,828 units, in February 2019 were 7,721 units, in February 2020 were 8,402 units, and in February 2021 were 10,540 units. Retail sales represented 93.9% of sales while Fleet represented 6.1%.

Japanese and American cars led the way in sales.

  • Japanese brands increased their sales by 20.95% with Mitsubishi leading the pack. Japanese brands also increased their market share from 51.2% to 58.7%.
  • Korean brands decreased their sales by -23.6%. While Genesis increased sales, Kia and Hyundai closed red. They also decreased their market share going from 25.7% in 2021 to 18.6% in 2021.
  • American brands increased sales by 5.2% with Ford leading sales by 19.7%. Chrysler and GM had negative numbers.
  • European brands had a -2.4% decrease in sales. While Volvo (+93.3%), Mini (+53.3%), and Alfa Romeo (+40.0%) increased their sales, all other brands reported a decrease. With Lamborghini (-75.0%) and Ferrari (-66.7%).

Metropolitan Area and the Northern Region increase sales

San Juan and Rio Piedras led to an increase in sales. The western region was the only region to decrease sales.

Year-to-Date (Jan-Feb) new car unit sales have totaled 21,524, a 4.4% increase compared to the same period 2021, and a 35.5% compared to 2019. We’re using 2019 as a base year for most analysis since it was the last “normal” year before the earthquakes and the pandemic lockdowns.

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