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Car sales drop 20 percent in April
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Posted on May 04 2008
New car sales decelerated anew last month with the Commonwealth Auto Dealers Association posting a 20.29-percent drop in April 2008.
After absorbing a 23-percent decrease last month, the three automobile dealers in the Commonwealth saw its profit margins take a hit following a 14-unit drop in new car sales to 55 from 69 new cars disposed of in April 2007.
The 55 new cars sold last month are broken down as follows: 32 cars, four trucks, five vans, and 14 sport utility vehicles.
Triple J Motors led the decline after seeing new car sales plummet 52.95 percent to eight units last month, compared to the 17 it sold during the same period last year. The Beach Road dealership sold five cars and three SUVs last month.
Market leader Microl Corp. also was not immune from the beating CADA took last month, as the Oleai dealership had four less new cars sold in April 2008—from 31 to 27—compared to a year ago, which represented a 12.9-percent decrease. Microl Corp. sold 18 cars, one truck, three vans, and five SUVs last month.
Joeten Motors experienced the least turmoil in terms of new car sales in April 2008 as the Beach Road dealership only recorded a 4.76-percent slip—from 21 in 2007 to 20 in 2008. Joeten Motors’ new car sales last month included nine cars, three trucks, two vans, and six SUVs.
Year to date figures from CADA, meanwhile, show that new car sales are a tick behind January-April 2007 records, as the association has sold 245 new cars in the first four months of 2008 compared to 250 during the first quarter of 2007—a still bearable 2-percent drop.
Joeten Motors is the distributor for Nissan, Ford, Honda, and Kia. Microl Corp. sells Toyota and Chevrolet. Triple J Motors peddles Mazda, Hyundai, Mitsubishi, and Suzuki.
