New Vehicle Sales Increase in Northern Ohio in 2023

CLEVELAND, Ohio – New vehicle sales in northern Ohio increased 6.91 percent in 2023 compared with the previous year, according to figures released Friday by the Greater Cleveland Automobile Dealers’ Association.

Dealerships in northern Ohio sold 210,789 new vehicles in 2023, compared with 197,164 in 2022.

In December 2023, dealerships sold 15,968 new cars, trucks and SUVs, a 1.05 percent increase from sales in December 2022.

“Northern Ohio new vehicle sales rebounded from 2022 with small gains, while used vehicle sales continued to struggle,” said Louis A. Vitantonio, president of the Greater Cleveland Automobile Dealers’ Association. “High interest rates are hindering sales activity. However, more lucrative incentives have arrived, which help offset the payment increases. In 2024, we expect similar sales activity as the market corrects itself from the past two years.”

Used vehicle sales totaled 211,438 in 2023, a decrease of 5.32 percent from last year. Sales of used cars, trucks and SUVs were down by 10.37 percent in December 2023 compared with the same month in 2022.

Chevrolet remained the region’s best-selling brand, with 28,930 new vehicles sold in 2023, followed by Ford with 25,803; Kia, 18,330; Honda, 17,903; and Toyota, 16,038.

Published by The Business Journal, Youngstown, Ohio.