Stark County Business News: Car Sales Increase in Northeast Ohio in 2023

 Car Sales Increase in Northeast Ohio in 2023 

According to Greater Cleveland's Automobile Dealer's Association (GCADA)

Below is data presented at the GCADA website. Check out full details at: https://gcada.org/display.cfm?p=59&pp=0&i=4390

Cleveland, OH – New motor vehicle sales in 2023 have topped the previous year’s sales by a margin of 6.91 percent, according to figures released today by the Greater Cleveland Automobile Dealers’ Association (GCADA). Franchised dealers in Northern Ohio recorded 210,789 new vehicle sales, compared to 197,164 in 2022. 

For December of 2023, dealers sold 15,968 new cars, trucks and SUVs compared to the same month a year prior, an increase of 1.05 percent.

“Northern Ohio new vehicle sales rebounded from 2022 with small gains, while used vehicle sales continued to struggle,” says Louis A. Vitantonio, president of the GCADA. “High interest rates are hindering sales activity, however more lucrative incentives have arrived, which help offset the payment increases. In 2024, we expect similar sales activity as the market corrects itself from the past two years.”

Used vehicle sales in all of 2023 totaled 211,438, a decrease of 5.32 percent from last year. Looking at December alone, sales of used cars, trucks and SUVs were down by 10.37 percent compared to the same month in 2022.

At year end, Chevrolet remained the region’s best-selling brand, with 2,238 new vehicles sold. Ford’s second place finish resulted from 1,946 sales in December. Honda followed, taking back third place with 1,404 vehicle sales, ahead of Toyota and Kia with 1,328 and 1,324 sales, respectively.

 Graphic from https://gcada.org/display.cfm?p=59&pp=0&i=4390.