February 2015 Auto Sales Down
February 2015 Auto Sales Down
Here at Cleveland Scrap Cars we are constantly reviewing the news associated with the auto scrap and recycling industry, as well as the sales in the new vehicle market. As a buyer of junk cars and a junk car hauler that provides “scrap my car” services throughout NE Ohio, we want to take things a step further by analyzing and reviewing industry trends and market changes. Vehicle manufacturers had a subpar month in sales during February. This surprises me since February is when many receive income tax refunds which can be applied to obtaining a car, truck or van.
A March 2, 2015 article by Chelsey Dulaney on WSJ.COM titled ‘Auto Sales Lose Steam in February’ summed up the current industry sales as follows: “Auto makers reported that U.S. sales lost steam in February, after a string of strong months, hurt by the bitter cold that crippled much of the country. Ford said sales fell 2% in February, while Toyota, Honda, Fiat, Chrysler and Nissan all posted sales growth that missed expectations. General Motors was a stand-out, posting a better-than-expected 4.2% increase as truck sales surged 36%. The U.S. auto industry has posted a streak of sales improvements, fueled by low gasoline prices & easier credit. Much of the continued strength comes from higher sales of sport-utility vehicles & trucks, which benefit from declining fuel prices. Kelley Blue Book said transaction prices of new light vehicles rose 4% to $33,299 compared with a year ago.” The link to the full story is available here: http://www.wsj.com/articles/chrysler-sales-increase-6-in-february-1425389401
An article titled ‘Good news for the auto industry, cars aren’t getting old quite so fast’ posted on February 28, 2015 by Jim Henry on Forbes.com discusses how the age of the current vehicles in use (on the road) will impact the auto industry as follows: “The age of the average car on the road has finally hit a plateau–good news for the auto industry, because it implies people are finally starting to replace their cars & trucks instead of hanging onto them. For the last few years the age of the U.S. “fleet” kept hitting new records, with the average car passing 10 years old, then 11 years old at an extraordinary pace even though new-vehicle sales had begun to recover. That’s partly because new-car production dropped so low before, during & immediately after the Great Recession. With millions fewer new cars on the road, naturally that drove the average age up. Consumer confidence was low & employment shaky that even consumers who could afford it and who had access to credit didn’t want to invest in a new car unless they absolutely had to replace one that broke beyond repair. Many bought a used car instead of a new one.” The complete article can be viewed here: http://www.forbes.com/sites/jimhenry/2015/02/28/good-news-for-the-auto-industry-cars-arent-getting-old-quite-so-fast/
CSC is a buyer of junk cars serving the Mayfield Heights, South Euclid, Cleveland Heights, Wickliffe and Brecksville areas. We offer scrap my car services in Bainbridge, East Cleveland, Maple Heights and Warrensville Heights. If looking for a junk car hauler in the regions of Euclid, Garfield Heights, Chesterland or Moreland Hills, simply call our junk car buyer for a quote today. Free towing is included in our scrap my car price in University Heights, Eastlake, Parma Heights, Lakewood, and Linndale Village. Our junk car hauler operation will pick up damaged cars and wrecked vehicles in Newburgh Heights, Parma, Seven Hills and Beachwood. If your vehicle is facing expensive repairs and you would prefer to sell it for cash to a buyer of junk cars, simply give us a call.