The New Jersey new vehicle market was in good shape at the start of last year. New retail registrations in the state during 2019 approached 520,000 units based on historical standards and were well above average. And 2020 got off to a good start as well, with registrations declining by less than 5% in January and February versus strong year-earlier results. Auto Outlook’s forecast at the time was for sales to drift lower but remain strong. After seven years of increasing registrations following the recessionary low-point in 2009, the market was due for a mild downturn.
OFFICIAL PUBLICATION OF THE NEW JERSEY COALITION OF AUTOMOTIVE RETAILERS