Auto Sales In Hawaii Take A Turn For The Worse
Car sales in Hawaii are expected to drop this year. Vehicle registrations will decline significantly to just over 4 percent since the economy is slowing down. The Hawaii automobile industry is braced for lower car sales for the year, with vehicle registrations and sales of new car warranties expected to drop 4.1 percent as the economy slows, according to some Auto Dealers in Hawaii.
Registrations for cars are expected to only reach 57,000 because of credit markets being tight, unemployment rising, house values declining, gas prices soaring, and consumers in debt. In this type of economy, it is a good idea to purchase an to protect your investment. It was forecasted late last year that there will be a decrease of approximately 3.5 percent in auto registrations this year.
In the meantime, registrations for vehicles last year were down to just over 59,000, which was a more significant drop than expected. Kauai had a smaller decline at just over 7 percent, and the big island reported a greater drop at approximately 12 percent.