With more confidence, low-interest rates and a need to replace older cars, consumers in Southwest Florida have helped car and truck sales reach pre-recession levels.
According to research done by auto data provider Dominion Cross-Sell, some dealers in a three-county radius are on track to have a record-breaking 2012. New-car sales rose 12% in Florida’s Manatee, Sarasota, and Charlotte counties. Auto research firm Edmunds.com found that a rise in lease returns, which reached levels that haven’t been seen since early 2010, help push up sales 2%.
Southwest Florida saw a peak in car sales in 2005, when 55,523 new vehicles were purchased. As the recession and a housing bust hit that tri-county area, sales dropped the next four years. Last year, new-car sales in the region increased slightly to 33,734 units.
Overall, for the first time in three years, the industry is expected to have year-over-year growth, as new-car sales are up nearly 13% nationally.
