November 20,2014 –
The California new vehicle market has recovered from the depths of the recession in 2009 says the statewide New Car Dealers Assn. By year-end, new vehicle registrations are predicted to reach 1.84 million units, an impressive 77 percent increase from the recessionary low point of 1.04 million in 2009.
And the market is likely to move higher in 2015 as well, with registrations potentially exceeding 1.9 million units. That would make it likely the state would see double the car sales in 2016 compared to 2009.
Pent up demand resulting from the economic downturn, very low interest rates, an improving economy, and impressive new products have provided the long term boost to new vehicle sales.
Among the top 15 selling brands, Jeep, Lexus, Mazda, Subaru, and Nissan had the biggest percentage increases in the first nine months of this year. New registrations for each of the five brands increased by more than 16 percent.
Honda Accord is the best selling car in the state in 2014.
Year to date sales of all vehicles are up 8.5%.