Thursday, May 29, 2008

Long Island car sales up in the first quarter 2008

Long Islanders purchased more cars in the first quarter of 2008. Vehicle sales were up 10.3 percent compared to a year earlier. That is better than the national trend which saw registrations falling by 6.9 percent. In Long Island sales for both categories, pickups/SUVs and cars, gained. Relative low unemployment and stable home prices have kept the auto market healthy in the New York region. This trend seems to be broken in April.

Indeed, Jeffrey Foltz, a local market analyst for the Greater New York Automobile Dealers Association, said there are signs the car business locally slowed down in April. And some dealers say credit is tight, especially for customers who are "upside down" -- owing more on the present cars than they are worth in trade.

source: New car sales climb on LI, despite decline nationally
BY TOM INCANTALUPO,, May 29, 2008,0,7259305.story

No comments: