California car sales down 24.6% but looking up
California’s new light vehicle market declined 24.6 percent during the first nine months of this year versus a year earlier reports the California New Car Dealers Association.The U.S. market fell less, 18.4 percent. Retail vehicle sales in the state have held up better in 2020. New retail registrations fell 19.5% so far this year.Despite the trend dealers expect the market to be up in 2021.
For now light truck registrations in the state declined 17.3 percent versus the 34.4 percent drop for passenger cars.
The rate of decline in the state market eased in the third quarter of this year. 3Q ‘20 registrations fell by 19.6 percent versus a year earlier, an improvement from the 48.9 percent drop in the second quarter.
Wildfires and a slowly recovering labor market contributed to the nearly 20 percent decline in the third quarter. The market could post a small increase in the fourth quarter they say.
Hybrid /electric market share climbs to 14.3%
California motorists continue to buy electric cars with its share climbing to 6.1% so far this year. Adding hybrid electric vehicles market share is 14.3% according to dealers reports. A year ago it was 13.4%.
