Colorado’s new car and light truck registrations declined 3.3 percent in February compared to last year, but used vehicle registrations were up 3.4 percent for the same month.
Registration data compiled by Experian Automotive for the Colorado Automobile Dealers Association found that 16,165 new cars and light trucks were registered in last month versus 16,710 in February of 2017.
“Automakers eased off the pedal for incentives in February and the slight increase in interest rates likely led to the slight decline in registrations for Colorado,” said CADA President Tim Jackson in a news release. “Those factors might prove to be headwinds for consumers as we head into spring and summer. On the positive side, Colorado continues to attract more residents with purchasing power and the state is benefiting from a strong economy and low unemployment.”
Passenger car registration fell by 6.8 percent in February while light trucks were up less than 1 percent, the news release said. Volvo, BMW, Chrysler, Honda, Chevrolet and Audi registrations jumped by more than 10 percent for the same time period.
Used vehicle registrations, including vehicles seven years old or newer, climbed by 3.4 percent last month.
