Economy Puts A Dent In New Vehicle Sales
Consumers are really feeling the pinch due to higher prices in almost everything they need. People are getting bombarded from every direction. Now isn’t the time to even consider purchasing a new car.
On Tuesday, Chrysler LLC announced that they have had a 19.4 decline in sales in the U.S. in comparison to March of last year. Sales for GM had dropped 18.7% and Ford saw a decline of 14.1%. Even ever-winning Toyota was down 10.3%.
Instead of purchasing new cars, some motorists are deciding to buy used vehicles that are late model. New car sales dropped 2.5% last year, however, certified used car sales were up 2%. These automobiles sold through a dealer with a factory auto warranty. So far this year certified pre-owned vehicles have increased in sales 4%.
Other motorists aren’t taking the gamble, and are hanging on to their older vehicle. Most of the cars built after 1996 have the capability to last up to 200,000 if they have an auto warranty that allows for them to be cared for properly.