New Auto Sales Flat in January; Used Vehicle Sales Show Improvement
YOUNGSTOWN, Ohio – Sales of new cars and trucks to residents in Mahoning, Trumbull and Columbiana counties during the first month of 2023 were relatively unchanged compared with the same period a year ago.
According to the Greater Cleveland Automobile Dealers Association’s monthly report, sales of new vehicles to local buyers in January 2023 stood at 1,861 units, just one vehicle shy of the 1,862 sold in January 2022.
Sweeney Chevrolet, Boardman, sold the most new vehicles during the month with 118. Greenwood Chevrolet, Austintown, posted the second highest volume sales with 100. Boardman Subaru reported 99 sales in January, Fred Martin Ford in Austintown said it sold 88 new vehicles and Sweeney Buick GMC, Boardman, reported sales of 80 new cars and trucks during the month.
Sweeney on Jan. 20 announced that it had officially sold its dealerships to Pittsburgh-based #1 Cochran.
Local new car sales in January did show a 4.3% improvement compared with the previous month, data show. In December, local customers purchased 1,784 new cars and trucks.
Sales of used vehicles to local buyers posted modest gains in January, the dealer’s report says. Last month, customers purchased 1,896 used cars and trucks compared with 1,845 in January 2022, an increase of 2.7%.
Used vehicle sales in January also improved by 3.7% from the previous month, according to the report. In December, dealers said they sold 1,828 used cars and trucks to local buyers.
Combined sales of new and used vehicles stood at 3,826 in January, compared with 3,785 sold during the same month in 2022, an increase of 1%.
Compared with December 2022, collective sales of used cars and trucks to local customers improved by 4.6% in January.
Last year, local sales of new vehicles were down 20.6% compared with full-year numbers in 2021, as dealers wrestled with inventory constraints caused by component shortages that affected all major automakers.
Copyright 2023 The Business Journal, Youngstown, Ohio.