CALIFORNIA’S NEW VEHICLE MARKET INCREASED 12.6% IN FIRST QUARTER
(The following is a reformatted version of a press release issued by the California New Car Dealers Association and received via e-mail. The release was confirmed by the sender.)
May 23, 2013
California’s New Vehicle Market Increases 12.6 Percent in First Quarter of 2013
SACRAMENTO - The California New Car Dealers Association (CNCDA) reports that new light vehicle registrations exceeded 400,000 units during the first quarter of 2013, which was the highest first quarter total since 2008. Once again California’s increase in registrations exceeded the U.S. market improvement. “The recession that hit California’s new vehicle market so drastically is finally disappearing from our rear-view mirror,” said CNCDA President Brian Maas. “The comeback by California’s franchised new car dealers is well underway, and is being led by consumers choosing from among the wide variety of fuel efficient vehicles available.”
The Japanese brands still account for nearly fifty percent of California’s new vehicle market, but the Domestic brands did see a nearly 18 percent increase in registrations. Electric vehicle registrations are also climbing steadily, but still only account for about one percent of the market. The demand for all electric vehicles combined is similar to that of the Ford Explorer.
California’s new vehicle market has been growing at a faster pace than the used market for the past several years. New vehicle registrations increased 25 percent in 2012, while used registrations were up just 1.9 percent. This trend continued in the first quarter of this year.
The California Auto Outlook First Quarter 2013 Market Report provides comprehensive information on the state’s new and used vehicle market with charts and graphs. The report includes: a segment watch, including the top 5 models in each segment; a market perspective, comparing California nationally; brand scoreboards; a regional recap and more. The complete report can be accessed on CNCDA’s website at www.cncda.org.
California Auto Outlook is produced for CNCDA by Auto Outlook, Inc., an independent research company specializing in the analysis of statewide and regional automotive markets. When reporting these auto industry trends please acknowledge the data source: Polk.
About CNCDA The California New Car Dealers Association is the country’s largest state association of franchised new car and truck dealers representing nearly 1,100 dealer members. Last year California’s franchised new car dealers sold over 2 million new and used cars and trucks.
CONTACT: Kim McPhaul (916) 441-2599 firstname.lastname@example.org