Auto Sales Drop in February Across Region

YOUNGSTOWN, Ohio – Mahoning Valley residents purchased 3,634 new and used vehicles in February, which is 332 fewer from January and down 623 from February 2021.

Sweeney Chevrolet led local dealerships in new and used car sales to Valley residents with 189 vehicles sold, which is 32 vehicles fewer than were sold in February 2021, according to the latest data from the Greater Cleveland Automobile Dealers’ Association.

Rounding out the top five dealerships were Boardman Subaru with 171 sold (-26), Greenwood Chevrolet with 154 sold (-31), Taylor Kia of Boardman with 151 sold (-17) and Sweeney Buick GMC with 144 sold (-48).

New vehicle sales for the month were down 459 year over year, with 1,816 sales compared to 2,275 in February 2021. New vehicle sales for the month are also down from 1,970 sold in January.

Among Mahoning Valley dealers, Sweeney Chevrolet sold the most new vehicles in February with 131 sold, which is 30 fewer than the dealership sold in February 2021.

Rounding out the top five were Boardman Subaru with 102 sold to Valley residents (-25), Kufleitner Chrysler Dodge Jeep Ram Trucks of Boardman with 101 sold (+31), Taylor Kia with 80 sold (-5) and Stadium Chevrolet Buick GM Cadillac with 69 sold (-29).

Sales of used vehicle sales among local dealers were down year over year, with dealerships reporting 1,754 vehicles sold, down from 1,943 sold in January, and down from 1,882 sold in February 2021.

Greenwood Chevrolet led used auto sales in the Mahoning Valley with 95, which is 24 more than the dealership sold in February 2021. Rounding out the top five were Sweeney Buick GMC with 80 used vehicles sold (+18), Fred Martin Ford with 76 (+14), Taylor Kia with 71 (-12) and Boardman Subaru with 69 (-1)

Dealers throughout the Greater Cleveland association’s 22-county footprint that sold at least 10 vehicles to buyers in Columbiana, Mahoning and Trumbull counties reported 5,232 new- and used-vehicle sales in February. That’s down from 5,763 sold in February 2021.

Among those dealerships, Sweeney Chevrolet ranked fourth with 202 new and used vehicles sold last month to customers throughout the association’s coverage area.

That’s 34 fewer units than the 236 the dealership sold regionally in February 2021.

Rounding out the Mahoning Valley dealerships who ranked in the Top 10 were Boardman Subaru (184 sold), Greenwood Chevrolet (168) and Taylor Kia (161).

Total combined new- and used-car sales among all of the dealers in the Greater Cleveland association in February were 14,415, down from 16,572 in February 2021 – a 13% decline, according to a release from the association.

“The beginning of the year has been challenging for northern Ohio, with inventory constraints continuing to limit sales,” said Louis J. Vitantonio, president of the association. “We do not anticipate much inventory until late in 2022 or 2023.”

With new-vehicle supply at the same level since Thanksgiving, customer demand remains strong as dealers continue to hold prices at or above the manufacturer’s suggested retail price.

“The surge in new-car prices appears to have peaked,” says Michelle Krebs, executive analyst for Cox Automotive. “Yet, while we expect vehicle supply to improve, it will continue to be tight, particularly through the first half of the year. Because of this, we expect prices to remain high for the foreseeable future, but car shoppers can rest assured we don’t anticipate any more record highs.”

On average, nonluxury vehicles sold for $42,859 in January, down $294 – the third consecutive monthly decrease. However, consumers are still paying an average of $900 above sticker price, Kelley Blue Book reports.