Puerto Rico Economic Pulse ©

September 2006: Is Carmania over in Puerto Rico?

On the latest trends and perspectives for the car market in PR

Puerto Ricans cannot live without the beloved automobile. Every day, nearly two million cars storm highways in Puerto Rico. Since 1995, annual car sales have surpassed 100,000 units. As if this were not enough, the industry hit two back to back records in 2004 and 2005. However, an industry that was enjoying its greatest boom ever is also feeling the adverse winds beating Puerto Rico. Car sales have dropped this year by nearly 12% compared to last year. With an uncertain economic landscape and some taxes around the corner, the worst may be yet to come. Find out how the current situation may alter perspectives for the car market in Puerto Rico in the coming months.