Colorado new car and truck registrations ticked back up into positive territory at 1 percent in August, compared with August, 2013. In the first eight months of 2014, new vehicle registrations has increased 5.7 percent compared with the same time frame in 2013.
Those results and more are available in the August 2014 Colorado Auto Outlook Report released this week by the Colorado Automobile Dealers Association (CADA).
Jeep, Lexus, Mitsubishi and Ram new vehicle registrations each increased more than 20 percent year-to-date, January through August. Leading the lineup was Jeep with a 28.9 percent increase; followed by Lexus at 26.3 percent; Mitsubishi at 25.5 percent; and Ram at 20.5 percent.
“Strong sales over the Labor Day weekend put Colorado’s new car and truck sales back into positive range, which helped the state’s auto industry rebound from July’s minor downturn. Consumers are still taking advantage of strong manufacturer incentives as well as financing terms which continue to be affordable,” Tim Jackson, president of CADA, said.
Jackson said mid-size SUVs led in market share gains for the period.
Meanwhile, the used vehicle market in Colorado was up 0.8 percent in August 2014 (vehicles seven years old or newer) and improved 3.5 percent year-to-date.