SACRAMENTO, Calif. — The California New Car Dealers Association (CNCDA) reported this week that new-vehicle registrations in the third quarter rose 13.8 percent from a year ago, the largest year-over-year increase registered this year.
"After a long, deep recession, franchised dealers are meeting the increased demand for new vehicles," said Darryl Holter, CEO of the Downtown LA Auto Group and CNCDA Chairman. "We're hiring more workers, providing more sales tax revenue to cities and the state, and contributing to our communities."
According to the California Auto Outlook Third Quarter 2013 Market Report, the Prius was once again the best-selling car during the quarter, with the hybrid vehicle capturing a 7 percent share of the market. Toyota held 21.9 percent of the overall new-vehicle market, followed by Honda at 13.5 percent, and Ford at 11.2 percent.
The improvement in California's new-car sales continues to outpace the U.S. market, which has increased 8.7 percent so far this year, officials noted.
As California's new vehicle market continues to increase, the used-vehicle market declined by 5.2 percent during the first nine months of this year vs. a year earlier. Franchised new-car dealerships continue to increase their share of used-vehicle market, accounting for 19 percent of sales.
The complete report can be accessed on CNCDA's website at www.cncda.org.