baltimoresun.com

« Constellation: None of our plants reaped alleged excess profit | Main | Bernanke: Stimulus OK if Congress doesn't mess it up »

January 17, 2008

Maryland car sales fall 9.6 percent in December

Maryland new-car sales fell 9.6 percent in December to close out the poorest year since 1999, according to new figures from the Motor Vehicle Administration. Dealers sold 24,312 new cars, down from 26,879 in December 2006. And December sales were probably boosted by the fact that Maryland's auto-title tax went from 5 percent to 6 percent this month, spurring people who were going to buy in February or March to buy in December. 1 percent on a $30,000 car is $300.

For the year, Maryland dealers sold 378,184 new cars -- down 5.3 percent from 2006 results and down 11.7 percent -- 50,000 cars -- from the record in 2004. It'll be interesting to see what kind of incentives car companies put on the table. "We're doing less of that now," a GM spokewoman told me a couple days ago. Just wait a few months.

Posted by Jay Hancock at 9:50 AM | | Comments (0)
        

Post a comment

All comments must be approved by the blog author. Please do not resubmit comments if they do not immediately appear. You are not required to use your full name when posting, but you should use a real e-mail address. Comments may be republished in print, but we will not publish your e-mail address. Our full Terms of Service are available here.

Verification (needed to reduce spam):

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 Tuesdays and Sundays.
-- ADVERTISEMENT --

Most Recent Comments
Baltimore Sun coverage
Sign up for FREE business alerts
Get free Sun alerts sent to your mobile phone.*
Get free Baltimore Sun mobile alerts
Sign up for Business text alerts

Returning user? Update preferences.
Sign up for more Sun text alerts
*Standard message and data rates apply. Click here for Frequently Asked Questions.
Charm City Current
Stay connected