Car sales are continuing their downward trend in Colorado,the Denver Business Journal reports.
This September, new vehicle registrations were down by over 13 percent from the same time last year. This marks the second month in a row that Colorado has shown year-over-year declines in new vehicle registrations.
The slump isn’t unique to the Centennial State, though. Nationwide, industry trends show movement away from new car purchasing. Auto sales across the US peaked in September 2015 and have since struggled to match that high.
CADA president Tim Jackson said he wasn’t worried, calling the drop-off more of a plateau. “We’ve had six years of really strong increases,” he added. Jackson partly attributed the slowdown to an increase in the cost of advertising for auto dealers, due to the presidential election.