If automotive drives the local economy...then northeast Ohio is doing a lot better.
The trade group representing auto dealers in northern Ohio report a boost of nearly 15% for November and an increase of over 19% year-to-date. The Greater Cleveland Auto Dealers Association credits pent-up demand for the increases in 2011 retail sales.
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(Greater Cleveland Auto Dealers Association) The retail automotive industry in Northern Ohio sold 15,576 new vehicles in November, an increase of more than 2,000 vehicles over the same month a year prior, according to statistics released today by the Greater Cleveland Automobile Dealers Association. When comparing November 2011 with November 2010, sales increased 14.93 percent. For the year-to-date through the end of November, sales of new cars and light trucks are up 19.12 percent, when adjusting for discontinued brands.
Many local dealers attribute strong sales in 2011 to continued pent-up demand in the market.
“Individuals who have been deferring purchases for some time have returned to the dealerships in the past few months,” said Louis A. Vitantonio Jr., president of the Greater Cleveland Automobile Dealers’ Association. “Consumer confidence and attractive deals have led buyers back to the dealership.”
In addition, many brands are now in the middle of year-end sales events, which could help keep December sales strong. The week between Christmas and New Years is one of the most active for automobile dealers.
For the year to date, franchised new car dealers have sold 185,757 vehicles through November of this year compared to 156,248 vehicles during the same time a year prior. A total of 20 brands posted sales increases for the month, when comparing sales from November 2011 to the same month a year prior. For the year to date, 28 brands have posted sales increases over 2010.
Ford continued to lead the industry with 3,180 vehicles sold in November, an increase of more than 32 percent over November of 2010. Chevrolet came in second at 2,073 units, while Toyota overtook Honda for third place with 1,334 units beating its offshore rival by a scant ten units for the upward move.
Chrysler, Dodge and Jeep continued to have an excellent year, with combined sales of the three brands reaching 1,561 units in November of 2011 versus a combined total of 1,059 units during the same period last year.
20 Brands Up in November (‘11 v. ‘10)
The following 20 brands posted sales increases in November 2011 versus November 2010: Audi, Chevrolet, Chrysler, Dodge, Fiat, Ford, GMC, Hyundai, Jaguar, Jeep, Kia, Land Rover, Mercedes-Benz, Mitsubishi, Nissan, Porsche, Smart, Subaru, Toyota and Volkswagen.
28 Brands Up Year to Date through November (‘11 v. ‘10)
The following 28 brand posted sales increases for the year to date through November of this year versus the same period in 2010: Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Fiat, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Land Rover, Lincoln, Mercedes-Benz, Mini, Mitsubishi, Nissan, Porsche, Saab, Subaru, Suzuki, Volkswagen and Volvo.
