San Diego County new car dealers finish 2012 in fine style
Dealers cite 3 main reasons why
Last Updated: 350 days ago
SAN DIEGO - Danny Kress's mom was in the showroom of Marvin K. Brown Cadillac/Buick/GMC in Mission Valley on Thursday to buy a brand new Cadillac ATS sedan.
She was a bit camera shy, but her son told 10News why his mom waited until now to buy.
"She's been waiting and waiting for the last two years -- didn't know what she wanted. We've been trying to talk her into multiple different cars," Kress said.
One reason some people may be buying now is the tax savings.
California voters passed Prop 30 in 2012, which means sales taxes go up a quarter percent on Jan. 1.
"To save that quarter percent on a vehicle, which let's face it, with the cost of a vehicle, that can be a pretty significant savings," said Lance Roberts of the San Diego County New Car Dealers Association.
Roberts told 10News there are three big reasons behind brisk car sales this year.
"You get low interest rates, pent up demand of aging vehicle fleets and then ease on consumer credit and it makes for a real nice way for folks to go out and buy a new car," he said.
Car sales nationwide are up about 11 percent over 2011, but it's up about 27 percent here in San Diego County, and that benefits all of us.
First, dealers provide more than 10,000 jobs in the county, and increased sales mean more taxes collected which means more money for city’s general funds.
Car dealers said as 2012 rockets to a strong close, they expect the same for 2013, as long as interest rates remain low.
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