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The Honolulu Advertiser
Updated at 3:57 p.m., Thursday, October 30, 2008

Hawaii car sales hit the brakes

Advertiser Staff

Hawai'i's new vehicle registrations took a steeper dive through the first nine months of the year compared with the decline nationally, according to the Hawaii Automobile Dealers Association.

The organization of car dealers said 34,995 new cars and light trucks were registered in Hawai'i through September, or 20 percent less than a year earlier. That compared with an almost 14 percent decline during the same period nationally.

The local automobile group also forecast the decline will deepen during the October-to-December period, with a 24 percent dip expected compared with the same three-month period in 2007.

It also forecast a 3.4 percent decline in 2009 for car sales, the fifth consecutive annual drop in sales for the market.

New vehicle registrations are considered to be representative of car sales. The sales decline has been blamed on a worsening economy along with consumer uncertainty and excessive household debt.