Colorado new car and truck registrations increased 20.8 percent in March 2015 versus 2014, according to the Colorado Automobile Dealers Association. Registration data compiled by Experian Automotive indicates a March 2015 total of 19,207 new cars and trucks registered in this state, compared with 15,902 in March 2014.
“Trucks, SUVs and crossovers rule. Registrations in Colorado and the nation are up for all three categories,” said Tim Jackson, president of CADA, in the release. “Coming out of the winter doldrums, we’re seeing a pent-up demand that may also be favorable in the second quarter. Consumers continue to benefit from manufacturers’ and dealers’ incentives, affordable fuel prices, low interest rates, affordable lease terms and easily accessible credit for most buyers.”
The release stated full-size pickups, compact luxury SUVs, compact pickups and full-size crossover SUVs led in market share gains for the period, while new vehicle registrations for specific brands like Chrysler, Porsche, Lincoln, BMW and GMC increased by more than 20 percent so far this year.
The used vehicle market in Colorado (vehicles seven years old or newer) was up 15.6 percent in March 2015 and improved 4.5 percent for the first three months of this year.