Monday was a happy day for Colorado auto dealers meeting at a Denver hotel and contemplating the fact that 16.4 million new cars and trucks are likely to be sold nationwide by Dec. 31.
They know that National Automobile Dealers Association data shows new cars and trucks in Colorado have for months moved off lots at a pace faster than in the nation as a whole.
“We are really encouraged by that performance,” said Glenwood Springs Ford and Subaru president Jeff Carlson,
who also is NADA vice chairman-elect.
“It is going to be a great year for dealers and consumers as well.”
During the first 10 months of the year, 156,442 new cars and trucks were sold, compared with 146,012 during the same period of 2013; 130,419 in the first 10 months of 2012; and 106,123 in the same period of 2011, according to the Colorado Automobile Dealers Association.
Colorado sales are trending toward 180,000 vehicles sold by Dec. 31.
“It would make 2014, if the trend continues, the fourth-best year in the last 15 years in Colorado,” said Colorado Automobile Dealers Association president Tim Jackson.
The sales trend reflects the state’s improving economy. Colorado’s unemployment rates have been lower, and consumer confidence in the state is better than the nation’s. The state has more college grads and jobs that are higher-paying.
“Colorado’s economy is better than the nation as a whole,” Jackson said. “Throughout the last four or five years, (Colorado has) steadily tracked 1 to 4 percent above the increase in sales nationally.”
High-end brands Lexus, Audi and Porsche all increased sales more than 19 percent in the first 10 months of this year. Jeep, Mitsubishi and Dodge Ram have done well, too.
In 2012, Jeep, Chrysler, Acura, Volkswagen and Toyota dominated, with Land Rover and Infiniti thrown in for good measure.
A strong stock market helps, too, Carlson said.
“The stock market, although it has been up and down, is at record highs,” Carlson said. “When you see that, you see the consumption of luxury items including vehicles and high-end houses. It travels with the market and market highs.”
Howard Pankratz: hpankratz @denverpost.com, 303-954-1939 or howardpankratz
