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Friday, Apr 19, 2024

State’s New Vehicle Registrations Declined in First Quarter

Registrations of new cars and light trucks declined by 18.6 percent in the first quarter, compared to the same period last year, according to the California Auto Outlook First Quarter 2008 Market Report. The California New Car Dealers’ Association, the organization that produces the outlook, cites a combination of consumer debt, the housing crisis and high fuel prices as contributors to the decline. “The shift from SUVs, pickups and vans towards passenger cars shows that consumers are making their purchase decisions with a cost-conscious and environmentally-aware frame of mind,” said Denny FitzPatrick, CNCDA chairman. “For those consumers who still need a larger vehicle, there are numerous manufacturer incentives being offered that ease the burden of a new vehicle purchase, as well as a wide range of fleet options that balance the need for size and fuel economy.”

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