New vehicle registrations climb high in first 10 months of year

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152139546New vehicle sales keep speeding upward, according to a report released Monday by the Colorado Automobile Dealers Association.

New car and truck sales have jumped 12 percent for the first 10 months of 2013 over 2012 and up 7.8 percent for October compared to a year earlier.

New vehicle registrations for Dodge, Ram, Porsche and BMW each increased more than 30 percent during the first 10 months of this year.

Dodge led the way with a 48.2 percent increase, followed by Ram at 33.6 percent; Porsche at 31.4 percent; and BMW at 30.4 percent.

“Colorado new vehicle registrations accelerated again in October, putting sales back into double digits for the first 10 months,” said Tim Jackson, president of CADA in a news release. “The average age of cars and trucks is at a record high and consumers are replacing many of them. The other new factor is lower gas prices, which is fueling demand for sports utility vehicles (SUVs) and pickups.”

Jackson said compact SUVs, full-size pickups and compact luxury SUVs continued to lead in market share gains and have for the past eight consecutive months.

The used vehicle market in Colorado was up 5.4 percent in October 2013 (vehicles seven years old or newer), improving 3.3 percent, year-to-date.

For a complete copy of the October 2013 Colorado Auto Outlook Report, email The InterPro Group at pr@interprogroup.com, or call 303-503-6677.

Based on statistics from Experian Automotive, the Colorado report was prepared for CADA by Auto Outlook Inc., an independent automotive market research firm in Malvern, Penn.