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MASON CITY, IA – It could be another sign of an improving economy. Those working at car dealerships across the country saw record sales last month.
The U.S. auto sales industry is sizzling hot right now. June car sales rose to its highest level in 5 years.
The three top car manufacturers all saw numbers climb; GM sales went up 6%, Chrysler is up 8% but leading the pack if Ford which is up 13%.
And we’re finding out locally it’s much the same.
“We’ve actually seen here in Mason City, car sales, new car sales are on a roll which used cars are also but Ford’s been on a big roll,” says Don O’Connor with Mason City Ford.
O’Conner and his staff witnessed this uptick first hand, and while specific models are breaking sale records, there’s a vast variety of vehicles speeding off the lot.
“Small cars, the Fiesta, C-MAX, and Focus are up big time. The F-Series, F-150s we’ve seen that really spike up,” adds O’Connor.
The surge in sales has been attributed to buyers feeling more financially secure.
“We have had an increase in car loans.”
Wendy Rish is a Private Banking Officer at First Citizens National Bank and says she’s seen a lot of car loan applications come across her desk in the past few months.
“I think the economy is moving in a good direction it may take a while, might be a slow process but I think everyone wants to reap the benefits of low rates that are out there and lock in when they can.”
Auto sales across the nation are on the rise and dealerships we talked to today said they expect that trend to continue.
“We see our economy getting a little stronger we’re far from being perfect yet but you know there’s a lot of interest out there we’ve got a lot of people out there shopping and looking for new vehicles right now, I think it’ll be a good summer,” says O’Connor.
Eco-friendly cars are also popular. For example, sales leaders at Nissan report that sales of their “Leaf” electric car were three times higher than they were a year ago.