Colorado new auto sales continue downward slide in 2019 - The Denver Post

When it comes to buying new versus used in Colorado, consumers are continuing to skew toward the more affordable vehicle option.

For the 11 months through November, new light-vehicle registrations in the state were down 3.4%, which is a steeper drop than the 2.1% decline measured nationally, according to a report Monday from the Colorado Automobile Dealers Association.

New light truck registrations are down 0.1% year-to-date, while new passenger car registrations were down 14.9%. That works out to 106 fewer new trucks registered and 6,399 fewer new cars registered in Colorado this year than last through November.

Through October, the most recent month available, used car and truck registrations are up 6.3%.

“Colorado’s new vehicle registrations, year to date, continue to reflect the overall national slowdown in vehicle sales,” Tim Jackson, CADA president, said in a press release.

As the second biggest purchase consumers make after a home, automobile sales are a key measure of consumer confidence and the health of the larger economy.

Declines can signal a slowdown, but economists argue Colorado’s economy continues to maintain momentum and that a recession isn’t likely.

“Colorado continues to enjoy manageable population growth, employment gains have increased as the year has progressed, and the state is on track to add 52,900 workers in 2019,” said Broomfield economist Gary Horvath in a report Monday.

The gap between new and used car registrations this year could indicate that consumers are struggling with affordability rather than pulling back. That said, many people appear set on having a truck or SUV, even if those are more expensive.

Brands specializing in sedans have suffered the biggest drop in new purchases this year, with Fiat registrations down by 56.4%, Chrysler sales down by 35.9%, Mitsubishi down by 30.5%, and Infiniti down by 29.4%.

Tesla continues to enjoy the biggest increase year-to-date in new registrations with a 47.5% gain, but that is slowing. From September to November, Tesla registrations fell 26% in Colorado.

Other brands with the biggest percentage gains this year in new registrations include RAM, Lincoln, BMW, Porsche, Hyundai, GMC and Acura.

A separate survey from iSeeCars.com found that the top-selling vehicle in Colorado this year remains the Ford F-150, a perennial leader nationally for both new and used vehicle sales.

In metro Denver, the next most popular models for new auto buyers are the Honda CR-V, the Subaru Outback, the Toyota 4Runner, and the Ram 1500 pickup.

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Colorado new auto sales continue downward slide in 2019 - The Denver Post
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