CADA Open Road
NADA Board of Directors elects North Carolina dealer Michael Alford as 2022 Chair
Last Tuesday, the 65-member board of directors of the National Automobile Dealers Association (NADA) elected Mike Alford as its 2022 Chair.
“It is an honor and privilege to be elected to serve as NADA board chairman for 2022,” said Alford, who represents North Carolina’s new-car dealers on the NADA board and is president of Marine Chevrolet Cadillac in Jacksonville, N.C. “Since 1917 NADA has been an ardent advocate for franchised new-car dealers. The opportunity to chair this dynamic group of automotive leaders is both exciting and humbling. We have an engaged board and talented team that stands ready to advance the interest of our more than 16,000 franchised dealers. I appreciate the trust and confidence of the board as we tirelessly pursue our work with all stakeholders on behalf of the dealer body.”
Alford, 57, who currently serves as NADA vice chairman, will succeed Paul Walser, partner of Walser Automotive Group in Edina, Minn., as chairman.
Geoffrey Pohanka, 64, who represents new-car dealers in Metro Washington, D.C. and currently serves as chairman of NADA’s Industry Affairs Committee, was elected NADA vice chairman for 2022.
Colorado Auto Outlook
Covering data through Third Quarter 2021
New vehicle registrations in Colorado increased 18.5% through September 2021
Forecast calls for 6.6% increase
for 2021 by year end
The Colorado Automobile Dealers Association (CADA) today released its Third Quarter 2021 “Colorado Auto Outlook,” reporting that the new vehicle market maintained momentum at an 18.5% increase during the first nine months of this year, versus the same period in 2020. Colorado's gain was slightly larger than the U.S. market, which showed an 18.2% increase through the same year-to-date period.
LIGHT TRUCK MARKET INCREASES 21.6%
Light truck market share (including SUV, pickup and van sales) made up 85.6% of the total Colorado vehicle market, netting 160,158 registrations, versus 131,666 last year, for a 21.6% increase.
NEW CARS MARKET DECREASES 2.2%
New car market share made up 14.4% of the total Colorado vehicle market on 26,851 registrations, versus 26,155 last year, for a drop of 2.2%.
COLORADO RANKS HIGH IN ELECTRIC AND HYBRID VEHICLE MARKET
Colorado ranks sixth among states in sales of electric and plug-in hybrid vehicles, with 3,9% market share YTD. Colorado follows California (7.3%), Oregon (5.1%), Washington (4.9%), Hawaii (4.8%) and Nevada (4.3%).
CADA President Tim Jackson said, "Demand for new trucks and vehicles remain high in Colorado, but future sales and registrations will be hampered by production and supply-related bottlenecks, along with a matrix of factors related to the chip shortage, transportation logistics, availability of labor and low inventory. Meanwhile, consumers who want to buy new vehicles continue benefitting from historically low interest rates, rising wages, accumulated savings, record-high household net worth and demand for new products coming into the market. In aggregate, these factors could slightly increase new vehicle registrations in the next quarter and into 2022."
Other Highlights Year to Date 2021 vs. same period 2020
Market share for the top five selling brands in Colorado include Toyota leading with a 14.1% market share, followed by Ford (10.3%), Subaru (9.6%), Chevrolet (7.3%) and Honda (7.0%).
Market share for the top five selling models in the state are the RAM pickup (4.5%), Ford F-Series (4.4%), Toyota RAV4 (3.1%), Toyota Tacoma (2.8%) and Chevrolet Silverado at 2.7%.
Among major brand categories, Korean brands had the largest registration increase YTD at 34.2%, followed by European (23.6%), Japanese (18.7%) and domestic brands (14.1%).
Used vehicle registrations in Colorado were up 18.2% during the first nine months of this year, versus last year, an increase almost identical to the increase in the new vehicle market. Late-model used vehicles are defined as those models that are seven years old or newer.
The Colorado Auto Outlook was prepared for CADA by Auto Outlook, Inc., an independent automotive market research firm in Exton, PA. All data represent new retail registrations in Colorado and excludes fleet transactions.
Note: Registration numbers versus sales numbers run about two months behind, compared to actual sales. Year-to-date figures typically reflect market results. Monthly registration figures can fluctuate, resulting in over or under estimation of actual results, due to processing delays by governmental agencies.
For more information, email Tim Jackson
Thanks for joining us at the Annual Convention!
From The Broadmoor campus itself, to the informal reception Wednesday night, golf Thursday, Welcome Reception Thursday night and speakers Friday, it was a spectacular two days in some of the best weather we've experienced all year!
Join us this week for the Annual Convention!
Hit the links Thursday!
Your registration to the Annual Convention includes playing in the Annual CADA Golf Event next Thursday on The Broadmoor’s West Course. With breathtaking views at every turn, this course will challenge you — regardless of your skill level. And what’s not to love about a morning of play at The Broadmoor?
If golf isn’t your thing, The Broadmoor plays host to a variety of activities, ranging from strolling the hotel property on a self-guided art tour to a spa treatment, lounging by the pools, ziplining or hiking… and so much more.