Registrations for new cars are up 13.5 percent compared to last year's quarterly numbers, according to an industry analysis conducted by Experian Automotive. It is the third consecutive quarter that new-car registrations have risen. It also is the second highest level of activity over the past seven quarters. The study is reporting that new vehicle registrations have reached 2,926,716 units through the second quarter 2010.
Experian's quarterly analysis, "Drive Market Share Gains: An exclusive Look into Recent Automotive Trends," lists the third quarter 2009, as the quarter with the highest level of new car registrations of the seven-quarter period. It also cites that the spike in new-vehicle car registrations for that period was boosted by the then-active Cash for Clunkers program.
"Slowly but surely, the industry is gaining momentum," said Scott Waldron, president of Experian Automotive. "While there is still much work to be done to return the industry to previous sales registration levels, having three quarters of growth in a row is a very positive step forward for the automotive industry."
Ford held the top spot for corporate loyalty at 48.3 percent during the second quarter 2010. Chrysler's numbers have risen to 31.1 percent, which is more than a 52-percent increase compared to August 2009. Hyundai has increased to 45.7 percent from the previous quarter's 40 percent customer-loyalty rating.
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Source: Experian Automotive