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California New Vehicle Registrations Declined 18.3 Percent in First Half of 2008

July 24, 2008

SACRAMENTO – The California New Car Dealers Association (CNCDA) reported that registrations of new cars and light trucks barely exceeded 800,000 units, representing an 18.3 percent decline for the first half of 2008 when compared to the same period a year earlier.

The statistic appears in the California Auto Outlook Second Quarter 2008 Market Report. In addition, the report states that excessive household debt, rising fuel prices and shifting consumer demand are roadblocks to a rebound in new vehicle sales.

"Since 2005, sales of passenger cars have gone from just under 50 percent of consumer purchases to almost 60 percent," said Denny FitzPatrick, CNCDA Chairman. "Conversely, sales of SUVs, trucks and vans have fallen nearly 10 percent since 2005. Fortunately, nearly every manufacturer has numerous fuel-efficient vehicles available for consumers. Despite high fuel prices, the wide range of vehicles make it a great time to buy a new car."

The California Auto Outlook Second Quarter 2008 Market Report provides comprehensive information on the state's new vehicle market with charts and graphs. The report includes: a segment watch, including the top 10 models in each segment; a hybrid spotlight; a market perspective, comparing California nationally; brand scoreboards; a regional recap and more. The complete report can be accessed on CNCDA’s website at www.cncda.org.

The California New Car Dealers Association is the country's largest state association of franchised new car and truck dealers with over 1,300 dealer members.

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