CADA Releases December 2015 Outlook Report
DENVER, February 2, 2016--Colorado new car and light truck registrations finished 2015 in positive territory with an increase of 8 percent which is higher than the 5.7 percent increase in U.S. sales. Meanwhile, new car and light truck registrations in the state declined 9.9 percent in December compared to December 2014.
According to registration data compiled by Experian Automotive, annual totals for new vehicle registrations in Colorado were 203,471 compared to 188,416 in 2014. For December, 16,921 new cars and trucks were registered compared to 18,776 a year ago.
Those results and more are available in the December 2015 Colorado Auto Outlook Report released today by the Colorado Automobile Dealers Association (CADA).
Tim Jackson, president of CADA, said, "While the U.S. auto industry set sales records in 2015 with an increase of 5.7 percent over 2014, new car and light truck registrations in Colorado revved up for the year at 8 percent--one of our strongest years since the recession of 2008 and 2009). Pent-up consumer demand for new cars and trucks in Colorado continue to be driven by low fuel prices, affordable interest rates, readily available credit for most buyers and gains in employment."
Jackson said Chrysler, Lincoln, Porsche, Volvo, Buick, GMC and Subaru new vehicle registrations increased by more than 14 percent from 2014 to 2015. Market share segment leaders for the period were compact SUVs, compact luxury SUVs, compact pickups, full-size pickups and full-size crossover SUVs.
The used vehicle market in Colorado (vehicles seven years old or newer) improved 5.9 percent for the year.