New car sales surge statewide | UTSanDiego.com

New car sales surge statewide | UTSanDiego.com:


New car sales surge statewide
By Jonathan Horn12:01 P.M.MAY 24, 2013⎙ PRINT 🔖 SAVE 💬 COMMENTS 0
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Californians are driving new cars off the lot in droves.

San Diegans are making up a good chunk of those sales, too.

In the first quarter of 2013, people across the state bought 400,000 new cars and light trucks, the California New Car Dealers Association reports.

That's the most new cars sold in a quarter since 2008.

New car sales in California are also nearly lapping the nation. Sales in 2013's first quarter in California are up 12.6 percent compared to the first quarter of 2012. The nationwide increase is 7.2 percent.

San Diego County sales were up 10 percent in the first quarter, with 31,754 sold, the county new car dealers association said.

Alan Gin, an economist at the University of San Diego, said the state is rebounding rapidly because it took such a large hit during The Great Recession. Now, it's making up for it.

"We were hit particularly hard in California and San Diego," he said. "We’re rebounding more rapidly. That means more jobs, more income and therefore more money to spend on cars."

Gin said record-low interest rates are also helping to encourage new car sales. Toyota, for example, offers 0 percent interest on 60 months for some new cars.

Statewide, the hybrid Toyota Prius is the best-selling car, with 15,661 new models sold through March. The Honda Accord finished a close second, with 15,369 new units sold.

Through April, San Diegans have driven home 42,893 new vehicles, with Toyota comprising a little more than half of those new car sales.

The San Diego County New Car Dealers Association forecasts 136,750 new cars will be sold in the region this year, an 8 percent jump over 2012. It would be the fourth-straight year of increased sales since the region bottomed out at 77,707 in 2009.

California's top sellers
First quarter, 2013

Toyota Prius - 15,661
Honda Accord - 15,369
. Honda Civic - 14,918
Toyota Corolla - 14,188
Toyota Camry - 12,991