A report issued by the Colorado Automobile Dealers Association shows new car and light truck registrations increased more than 8 percent statewide in June versus the same time last year. Year-to-date registrations are up nearly 5 percent for the first six months of the year.
The data was compiled by Experian Automotive for CADA, and year-to-date totals for new vehicle registrations in Colorado were 100,251 versus 95,594 for a 4.9 percent increase; and June 2017 registration totals were 14,652 versus 13,517 for an increase of 8.4 percent.
“Colorado new car and truck registrations ended up in positive territory again despite a national trend of declining vehicle sales,”said CADA President Tim Jackson in the release.” Colorado Consumers are still attracted to strong new product lines and are benefiting from low unemployment, low fuel prices, affordable interest rates and readily available credit for most buyers.”
According to the El Paso County Clerk and Recorder’s Office, which tracks local vehicle registrations, 371,972 registrations were issued in Colorado Springs in 2016. That number has steadily risen from 324,570 in 2011. Fountain was second in vehicle registrations, with 20,680 in 2016. That number has also climbed from 16,730 five years ago. The county saw a total of 576,719 registrations in 2016, compared to 498,573 in 2011.
Jackson said Jaguar, Volkswagen, Infiniti, Mercedes, Honda, Subaru and Lincoln new vehicle registrations increased more than 10 percent year-to-date, and used vehicle registrations were up 10.4 percent through June. This includes vehicles seven years old or newer.
The CADA report noted registration numbers versus sales numbers run about two months behind compared to actual sales.
“Year-to-date figures will typically be more reflective of market results and monthly registration figures can fluctuate, resulting in over or under estimation of actual results due to processing delays by governmental agencies,” the release states.