Pub. 11 2012-2013 Issue 4

N e w J e r s e y C o a l i t i o n O f A u t o m o t i v e R e t a i l e r s 21 new jersey auto retailer w w w . n j c a r . o r g New Vehicle Attributes. Grade: A. Simply put, just about all manufacturers are introducing great products nowadays. Some are better than others, but all of them offer significant improvements in fuel economy, performance, styling, fit and finish, and infotainment when compared to the average 11-year-old vehicle on the road. Credit Availability. Grade: B+. Following the strangle- hold on credit during the peak of the financial crisis, credit is now widely available to the vast majority of new vehicle shoppers. Low interest rates and higher resale values have also led to a resurgence in leasing. Trade-In Values. Grade: A-. Below average new vehicle sales during the past several years has resulted in short sup- plies of used vehicles, giving a big boost to trade-in values. Putting this all togeth- er, it is not diff icult to envision the “typi- ca l” s cena r io f aced by prospec t ive new veh i c l e pu r c h a s e r s in New Jersey. They a r e s omewha t con - cerned about current and anticipated future economic conditions and their own finan- cial health. A sluggish economy, jobs that are hard to find, and more debt than they would like are leading to these worries. However, their current vehicle is old, could need expensive repairs very soon, and new cars and trucks offer a tremendous upgrade and significant improvements in fuel economy. In addition, when they make the trip to a dealership, they should have little trouble getting credit, should receive an affordable monthly payment, and will be getting a lot for their trade-in. These positive forces should continue to push the market higher for at least the next two or three years. Jeff Foltz is President of Auto Outlook, Inc., an independent automotive market research firm. He can be reached at autooutlook@me.com. Positive forces should continue to push the market higher for at least the next two or three years. Comments or Content ideas? for New Jersey Auto Retailer We are working hard to make New Jersey Auto Retailer relevant to your business needs. You’ll find a new look and NJ CAR-affiliated contributors offering their take on issues of concern to the retail automotive industry. If there is something you’d like to learn more about in the pages of New Jersey Auto Retailer, please contact: Brian Hughes, Director of Communications at (609) 883-5056, ext. 315 or at bhughes@njcar.org. NEW JERSEY COALITION OF AUTOMOTIVE RETAILERS Fall2012 Recipient of Hermes Publication Award NEW JERSEY COALITION OF AUTOMOTIVE RETAILERS Through THEEYESOFAN Economist NEW vehicle market 10YEARPERSPECTIVE: 2002-2012 This Year LOOKSSTRONGFOR CAR &TRUCK Sales page 17 page 10 page 12 page 27 Winter2012 SUMMER 2011 NEW JERSEY COALITION OF AUTOMOTIVE RETAILERS What’s at Stake in 2011?