Honda Accord was Best-Selling Model in California During First Quarter of 2014
May 16,2014
The California new vehicle market improved again during the first three months of this year says the California New Car Dealers Association. New light vehicle registrations in the state increased 5.4 percent in the First Quarter of 2014 versus a year earlier, the 14th consecutive increase.
As expected, the percentage improvement was lower than in recent quarters, but unit registrations were up by nearly 22,000 units. The slower rate of improvement is expected to continue for the rest of this year. Annual registrations in 2014 are predicted to increase to 1.793 million units, up 4.8 percent from 2013, but below the 11.9 percent increase last year. Other key trends in the state market:
Among the top 15 selling brands, Jeep, Lexus, Subaru, Nissan, and Kia had the biggest percentage increases in the First Quarter of this year. New registrations for each of the five brands increased by more than 10 percent.
As expected, the percentage improvement was lower than in recent quarters, but unit registrations were up by nearly 22,000 units. The slower rate of improvement is expected to continue for the rest of this year. Annual registrations in 2014 are predicted to increase to 1.793 million units, up 4.8 percent from 2013, but below the 11.9 percent increase last year. Other key trends in the state market:
Among the top 15 selling brands, Jeep, Lexus, Subaru, Nissan, and Kia had the biggest percentage increases in the First Quarter of this year. New registrations for each of the five brands increased by more than 10 percent.
Japanese brand registrations increased 7.2 percent in the First Quarter and market share increased 0.8 points.
Hybrid vehicle market share (excluding plug ins) slipped to 6.0 percent during the first three months of this year, down from 6.8 percent in 2013.
Used vehicle registrations increased 2.4 percent. Three year old or newer vehicles were up 11.5 percent, as supply shortages are easing.