Banking & Finance

Valley Auto Sales Drop for Third Straight Month

YOUNGSTOWN, Ohio – Car sales across the Mahoning Valley were down last month, according to the latest data from the Greater Cleveland Automobile Dealers Association, as 3,922 new and used vehicles were sold, a drop of 7.8%. It marked the third straight month local sales fell.

“For the first time in recent memory, we registered two straight months of sales declines [across our entire membership],” said Louis A. Vitantonio, president of the GCADA, in the monthly sales report. “However, the underlying forces driving the market continue to be strong. Fuel prices are low and financing is readily available. We still expect strong sales for this year with the overall market off by one or two percent. However, we could see a pickup in sales in the short term, as warmer weather returns and consumers take advantage of the many deals surrounding the recent Cleveland Auto Show.”

New-car sales accounted for most of the fall as 2,088 cars left dealership lots, down 15.9% from February 2017. Leading new-car sales in Mahoning, Trumbull and Columbiana counties was Sweeney Chevrolet, Boardman, with 163 delivered to customers, down from 261 a year ago.

Rounding out the top five were Greenwood Chevrolet, Austintown, selling 131, down from 216; Sweeney Buick GMC, Boardman, 127, down from 160; Stadium GM, Salem, 109, down from 192; and Boardman Subaru, Boardman, 106, down from 116.

For used-car sales, deliveries rose 4.1% to 1,764 last month. Leading the way was Greenwood Chevrolet with 115 used vehicles sold.

Across the association’s 22-county coverage area, Mahoning Valley dealerships took three of the top five spots in combined new and used sales. Greenwood Chevy ranked No. 2, Sweeney Chevy third and Sweeney Buick GMC fifth.

Published by The Business Journal, Youngstown, Ohio.