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61 pct. drop in Feb. auto sales
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Posted on Mar 03 2009
Only 28 new cars, vans, sports utility vehicles and trucks were sold in February, a 61-percent plunge from the 71 units sold during the same month last year as consumers hold on to their limited dollars in these tough economic times.
This brings to 64 the total number of new vehicles sold during the first two months of the year, also a 54 percent drop from 138 sold during the same period last year, based on data released yesterday by the Commonwealth Auto Dealers Association.
This means that automotive dealers in the CNMI went from selling an average of two cars every single day in January and February 2008 to only one each day since the start of 2009.
Automotive dealers also sold more used or secondhand vehicles than new vehicles in January and February. CADA members sold only 28 new vehicles, but sold 75 used vehicles.
The three CADA members each saw steep drop in sales.
Microl Corp., which is the authorized dealer of new Toyotas and Chevrolets, sold only 15 units in February compared to 34 last year, a difference of 56 percent.
Joeten Motors sold only nine new units of Nissan, Ford and Honda in February, a 65 percent decrease from last year.
Triple “J” Motors sold only four new vehicles in February, compared to 11 last year. Triple “J” Motors is the local authorized dealer of Hyundai, Mitsubishi, Isuzu, Suzuki and Mazda.
The three CADA members’ year-to-date sales also posted sharp decreases. Microl’s sales for January and February stood at 30; Joeten Motors, 19; and Triple “J” Motors, 15.
Toyota Yaris continued to lead the pack with five new units sold in February, followed by four units of Toyota Corolla; three each of Nissan Altima and Toyota RAV4; and two units of Toyota Camry.
Also sold were one each of Honda Civic, Nissan Maxima, Ford Ranger, Honda Ridgeline, Mazda pickup truck, Toyota Tacoma, Mazda5, Honda CRV, Hyundai Tucson, Mazda CX9, and Nissan Armada.
CADA does not project growth in vehicle sales this year.
