The new vehicle market in California continued to recover during the summer of 2012, with new registrations increasing a significant
34.2 percent in the Third Quarter versus a year earlier. It was the 14th consecutive year-over-year quarterly increase says the California New Car Dealers Association.
Primary reasons for the big increase include: release of pent up demand, easing credit conditions, strong trade in values, and improving supplies of top-selling models from Japanese manufacturers. The annual increase from 2011 to 2012 is now projected to approach 23%.
Other key trends in the state market:
• Chrysler was the brand with the largest percentage increase
during the first nine months of this year- Up 109%.
• Korean, Japanese, European, and Detroit Three brand registrations
each increased by more than 19 percent.
• Passenger car share increased 1.9 share points. SUVs were
down 1.8 points.
• The State market was up 26.3 percent in the first nine months of
2012, higher than the 14.5 percent increase in the Nation.
In California Toyota retained top market share at 21% followed by Honda,GM and Ford.
In full size truck sales the Ford F Series retains top market share at 33.7%. The Prius remains top selling car followed closely by Honda Civic.
The recovery in car sales in the state means sales of 1.58 million light vehicles this year compared to 1.17 million units in 2010 and 1.29 million last year.