New-car registrations decline, report shows
By Andrew Gomes
Advertiser Staff Writer
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New automobile registrations statewide declined 4.3 percent last year, ending several consecutive years of industry growth, according to a new report that also forecasts another decline this year.
There were 67,224 vehicle registrations in 2006, compared with 70,268 in 2005, according to the report by Auto Outlook Inc. that gauges sales for the Hawaii Automobile Dealers Association.
The Malvern, Pa.-based research firm is forecasting that new-car registrations will slip another 2.1 percent this year to 65,821.
"Unfortunately, the road looks a little bumpy ... definitely not impassible, but 2007 could be a bit of a rough ride for Hawai'i new-vehicle sales," the report stated.
Last year, Hawai'i's 4.3 percent decline in registrations, which are an indicator of sales, compared with a 2.6 percent decline nationally.
Auto Outlook reported that the three best-selling auto brands in Hawai'i — Toyota, Honda and Nissan — all posted registration increases. So did Acura, Audi, Hummer, Isuzu, Lexus, Suzuki and Volkswagen. All other brands had fewer new-car registrations.
The report said it expects weaker sales this year in part because so many people bought new cars in recent years. Other factors include economic growth that is expected to slow and new cars becoming slightly less affordable.
Reach Andrew Gomes at agomes@honoluluadvertiser.com.