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Tuesday, May 28, 2024

New Car Registrations Drop in Q3

Registrations of new cars and light trucks declined 19.1 percent during the third quarter of 2008, according to the California New Car Dealers Association. Last year at this time, new car sales had declined by 18.5 percent. CNCDA cite plummeting home values, tumultuous credit markets, bank failures, rising unemployment, gas prices and a lack of credit availability as contributing to the decline.

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