SACRAMENTO – The California New Car Dealers Association (CNCDA) announced that registrations of new cars and light trucks declined 19.1 percent during the third quarter of this year.
Year to date, the decline was 18.5 percent from the same period a year earlier, according to the California Auto Outlook Third Quarter 2008 Market Report. Plummeting house values, credit markets in turmoil, bank failures, an increased unemployment rate, gas prices and a lack of credit availability are among some of the many barriers to a rebound in new vehicle sales.
The California Auto Outlook Third 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.