LAS VEGAS, NV, January 20, 2020 /24-7PressRelease/ — Car sales in Las Vegas since the recession have tended to plateau over the years, and in some cases, are on the downward trend compared to the sales in the last decade before the recession. Dealerships aren’t ready to spend millions of dollars to invest in their operations or relocate to other areas owing to the slow growth in sales. Nationally, the number of car sales has fallen dramatically for the last five months, becoming a new trend in which sales have declined since 2009. Compared to the previous year, car sales have come down slightly to 97,000 being a decline of about 1,200 recorded in 2015, the executive director of Nevada Franchised Auto Dealers Association reported. Many car dealerships have registered a decrease in the number of sales, according to a survey conducted by Mackay, the executive director of the Nevada Franchised Auto Dealers Association. True to the earlier prediction, sales dwindled by approximately 2.5 percent throughout the country.
Las Vegas witnessed a peak in the number of sales in 2006 just before the recession set in by recording 104,981 sales. The numbers fell drastically since then to just 67,000 in 2008 and went down further by about 24,000 the subsequent year (2009). Since then, new vehicle sales have been increasing until 2016. For instance, sales were 45,982 (2010) 53,761 (2011), 68,503 (2012), 78,335 (2013), and 90,432 in 2014, a report by Nevada Franchised Dealers Association indicated.
New car sales in most car dealerships range from 8 to 9 percent, according to a survey by Marsh, who has years of experience in the Chrysler Jeep dealership. He further said that today, car manufacturers are designing long-lasting vehicles that can last over 11 years on the road because of the high replacement cost. Marsh recorded that car sales have plateaued for the last year. There has been a pent-up demand for new cars in the past few years following the recession. The reason why sales volumes have reduced is the increase in Federal Reserve interest rates by approximately a half-point, which has meant an increased cost of borrowing. Therefore, many potential car owners are certainly waiting to see what happens in the coming few days before they can make a decision to buy a car. Before the Federal government implements the proposed tax cuts through Congress, people will be waiting, Tyler Corder, the Chief Financial Officer at Findlay Automotive Group said.
Nationally, major car manufacturers, including General Motors, Fiat Chrysler, Hyundai, and Toyota registered a decrease in sales during the last season compared to the same time the previous year while other makers such as Ford, Honda, Nissan, and Volkswagen reported increases in the sales. Both manufacturers said that SUVs and truck sales were doing fairly good compared o car sales in the same period.
The good news is that while car sales show that the automotive market is saturated already, marketers see great opportunities in the near future owing to a reduction in unemployment rates, a reduction in oil and gas prices and an increase in wages. The only factors that could threaten the good trend in car sales are a drop in consumer confidence and the rising interest rates.
Why Don Forman United Nissan Stands Out
While many car dealerships have focused and indeed increased their profitability over the years despite the hard economic times, Don Forman Nissan stands out from the rest as the most philanthropic of car dealerships in Las Vegas. He continues to champion the growth of humanity by strengthening the community. He has done so consistently over the years by sponsoring community projects and identifying needy families whom he sponsors. You can help grow humanity by purchasing your next car at Don Forman United Nissan Dealership today.
While Don Forman Nissan remains a successful dealership owner in Las Vegas, his enduring passion is anchored in helping others achieve happiness. Don Forman United Nissan came out strongly through the Fox5 Surprise Squad to embody his spirit of positivity and love for humanity. His endeavor to do charity and promote ethics, morals and giving back to the community are some of the things that make Don Forman a shining example of not only determination but also determination.
There’s simply nothing as important as helping fellow men than overcome anxiety, depression and hopelessness. He has perfected the art of merging business success with unrelenting philanthropy. From helping needy students and families to Las Vegas Blood Drive, Don Forman Nissan continues to champion the fact that no human is limited in helping others realize their full potential.
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Published on : https://www.24-7pressrelease.com/press_release/469266/don-forman-united-nissan-out-performs-other-las-vegas-dealerships
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