| Cars sales leap as consumers finally trade up Edmunds said that's the oldest on record, with the notable exception of July and August of 2009, when the average trade-in age was off the charts because of the federal Cash for Clunkers program. motorists who had purchased a car new hit a record 71 months. L. S. "If gas prices continue to increase, as expected over the spring and into the summer, we will continue to see record average fuel economy of newly purchased vehicles," said TrueCar analyst Jesse Toprak. Analysts warn, however, that sales are still short of pre-recession levels. Caldwell said that nationwide new-car sales peaked at about 17 million before 2008, and she believes it will take time to get back to that level. The average age of vehicles traded in within the United States in January and February was about 6. "We're seeing 200,000 to 250,000 miles on some cars, where we were seeing 85,000 to 130,000 or 140,000 before. Numerous analysts were citing "pent-up demand" for new autos even during the darkest days of the recession. 2 mpg in December 2011. "I think that we can get 16 million, but I don't think it will happen this year or next year," she said. Likewise, retention of vehicles originally bought used climbed to an all-time high of 50 months. Caldwell and other analysts think significant numbers from those groups are buying new now, even though economic conditions may not be ideal. 9 miles per gallon, up from 22 mpg in January 2011 and 22. Now, 65 percent to 70 percent of sales are cars in the 30 to 35 miles-per-gallon range. com said fuel economy from new-vehicle sales nationwide in January reached a record 22. In fact, Edmunds said, automakers' incentives in February this year were the lowest since February 2003. Auto-sales figures for March showed the strongest pace since early 2008. David Rodgers, senior vice president and general manager of the Sullivan Automotive Group, which oversees Northern California dealerships, said that, more than car age, he's been struck by the high mileage he's seeing on trade-ins. |
Sunday 8 April 2012
Cars sales leap as consumers finally trade up
