A Good Ride for New Car Buyers and Dealers
HOLYOKE, Mass. (WGGB) — It’s one of the biggest purchases you can make in life and more people are doing it for the first time in years. New car sales were the highest this September than they’ve been since February 2008.
Dave Toplon, Sales Manager at Gary Rome Hyundai, said gas prices are a big reason more people are buying.
“With gas approaching four dollars a gallon, people are really using that as a qualifier for their next purchase,” said Toplon.
The top ten list of new cars sold in Massachusetts reflect this with many smaller, fuel-efficient ones on the list like the Honda Civic and Accord, the Toyota Corolla and the Hyundai Elantra.
“Hyundai sales are up almost 24%,” said Toplon. “The only thing that’s really holding us back is availability. The factory is running at full capacity. We’ve added a third shift at one of the plants here in the U.S.”
People are still buying used cars but inventories are also low. This has to do with people hanging on to cars through the bad economy. Toplon said trade-ins are much older and with higher mileage than usual.
Attractive financing is also luring buyers to new cars.
“Retail rates in the 2′s and 3′s,” said Toplon. “I’ve been in the car business for 30 years. I haven’t seen rates this low.”
It’s all adds up to a good ride dealerships and customers want to stay on.