Drop in Valley Car Sales Reflects Market Correction
YOUNGSTOWN, Ohio – New car sales in the Mahoning Valley dropped nearly 22% in April as 2,173 cars, trucks and SUVs were sold last month, data from the Greater Cleveland Automobile Dealers’ Association show.
But espite the drop, year-to-date sales are down less than 1%, totaling 9,643 in Mahoning, Trumbull and Columbiana counties, 78 fewer than last year.
“Due to warmer weather and aggressive incentives from manufacturers, we had a much stronger first quarter than we initially anticipated,” said association president Louis Vitantonio in a statement. “This is an instance of the market correcting itself. We still project the market will be flat or achieve only nominal growth when compared to last year.”
Year-over-year sales were up 13% in February and 3% in March after a 5% drop in January.
None of the top six dealerships in the three counties posted an increase in sales and just five of the top 20 reported year-to-year sales gains.
Leading dealerships in new car sales in the area was Greenwood Chevrolet, Austintown, with 134 sold, 10 fewer than last year, followed by Sweeney Chevrolet, Boardman, with 116, a drop of 32 vehicles. Rounding out the top five were Taylor Kia, Boardman, with 114 vehicles delivered; Sweeney Buick GMC, Boardman, with 92; and Fred Martin Ford, Austintown, with 79.
Greenwood Chevrolet also led the area in combined new and used car sales with 246 cars delivered last month, 15 fewer than April 2015.
Chevrolet manufactured four of the top five new models in the Mahoning Valley. The Silverado pickup regained its spot as the best-selling vehicle in the area as 110 were sold in April. The rest of the top five were the Chevy Equinox, 102 sold, the Chevy Malibu, 93, the Lordstown-built Chevy Cruze, 92, and the Ford Escape, 72.
While sales of new Cruzes totaled 30 fewer than the same month a year ago, the car was the best-selling used car in the Valley with 109 sold, 26 more than April 2015. So far this year, 357 used Cruzes have been sold.
Copyright 2023 The Business Journal, Youngstown, Ohio.