Northeast Ohio Auto Dealers Enjoyed Prosperous 2014
The Greater Cleveland Automobile Dealers Association says new vehicle sales for up nearly 7 percent compared to 2013.
Numbers-wise, that’s 245,000 cars and trucks sold versus 229,000 the year before.
Used vehicle dealerships also saw a bump in sales, a modest but still positive 4 percent.
Thomas Bowne is Chief Economist with the Freedonia Group, an industry market research firm in Cleveland. He says there are a few things behind the uptick.
“I think the primary factor is that economic growth has been stronger at last in the middle two quarters of 2104 than it’s been in a long time. Consumer confidence has been improved. One thing I’ve seen nationally is that light truck sales have really bounced back.”
An Automotive News analysis shows light-truck sales were up 20 percent in 2014 than in the previous year.
Among the brands enjoying improved sales are Ford, Chevrolet, Dodge, and Honda.