California New Car Sales Jumped 11 Percent in 2015

New-car sales soared by 11.1 percent last year in California, a growth rate that was more than twice the U.S. average. The California New Car Dealers Association said Monday that vehicle sales rose to 2.05 million in 2015, up from 1.85 million the year before. The growth rate in California compared with 5.2 percent growth nationally. The association said it thinks sales will top 2 million again this year, but a repeat of 11.1 percent growth is unlikely. “There are some indications that new vehicle sales are approaching a cyclical peak and the economic outlook is becoming cloudier,” the association said. “But the combination of very low fuel prices, high demand for light trucks, and strong consumer affordability should help the market increase this year, with registrations remaining above the 2 million-unit mark.”

View Article
Slow website