New Car Sales to Valley Residents Fall 8.7% in March

YOUNGSTOWN, Ohio – Sales of new and used vehicles to residents of Mahoning, Trumbull and Columbiana counties slumped during March compared with the same month the previous year, according to the latest report from the Greater Cleveland Automobile Dealers’ Association.

The dealers report shows that showrooms sold 2,124 new cars and trucks to Mahoning Valley residents during the month, compared with 2,328 sold in March 2022, a drop of 8.7%.

New vehicle sales in the Valley were nonetheless up a substantial 39.3% from the previous month. In February, local dealers reported just 1,524 new vehicles were sold.

Used car sales were also challenged last month. Dealerships reported they collectively sold 2,133 used vehicles in March, down from 2,609 during the same month in 2022, a drop of 18.2%.

Combined, sales of new and used vehicles were down 14% in March compared with last year. Dealers sold 5,015 new and used vehicles in March 2022, compared with 4,306 sold last month.

Ken Ganley Kia of Boardman reported the largest volume sales of new vehicles to Valley buyers with 150 sold. Fred Martin Ford, Austintown, posted the second-highest number with 127; Boardman Subaru reported the third highest with 125; Greenwood Chevrolet, Austintown, posted the fourth highest with 100 sold; and Stadium Chevrolet Buick Cadillac in Salem rounded out the top five in new car sales with 98 sold.

Greenwood Chevrolet sold the most used vehicles during the period with 118 sales, the dealers report shows. Boardman Subaru and Ken Ganley Kia each recorded 109 sales, Fred Martin Ford, 96, and Stadium Chevrolet Buick Cadillac reported it sold 90 used cars and trucks during the month.

However, overall new vehicle sales inched higher across the 21-county region covered by the Greater Cleveland Automobile Dealers’ Association, the report showed.

Showrooms in the 21-county region reported a total of 19,266 new vehicles sold during March, compared with 19,034 sold during the same month last year, a slight improvement of 1.2%.

Comparing sales in 2023, dealers saw a 36% jump in new vehicle sales from February to March, the association reported. A year ago, the increase over that time frame was 32%.

“As anticipated, the boost from the Cleveland Auto Show is evident in the sales numbers,” says Louis A. Vitantonio, president of the GCADA. “After a successful 10-day run at the newly redesigned I-X Center, the show has ushered in the spring selling season in Northern Ohio.”

“With vehicles being the second-largest investment that many people make after their home, rising interest rates and the overall economy will continue to be a factor as we move through spring and into summer.”

Published by The Business Journal, Youngstown, Ohio.