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November 29, 2007

Maryland car sales recover in October

This is decent news for the Maryland economy. State new car sales, which plunged 14 percent in September (compared with sales in September 2006), did much better in October -- falling by less than 1 percent compared with sales 12 months previously. It was the best year-over-year performance since October 2006, when new car sales rose a bit over those of October 2005. Used car sales also fell slightly in October. (We compare year-over-year figures to clean out seasonal variations. Car sales normally fall when the weather gets colder.)

So far this year Maryland new car sales have fallen 5 percent. October car sales are not yet posted on the Motor Vehicle Administration's Web site, says spokesman Jack Cahalan, because of a computer upgrade. But here are the numbers:

New cars sold: 32,965
Value: $885.7 million

Used cars sold: 59,348
Value: $516.2 million

Thanks to reader John for prompting the MVA to release the numbers (they're two weeks late) and forwarding them to me. Here is a recent column on Maryland car sales and what they might be trying to tell us.

Posted by Jay Hancock at 9:24 AM | | Comments (0)
        

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Wednesdays and Fridays.
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