Illinois auto dealers seem to have shaken off the effects of the recession, as car sales continue to increase.
According to the Commission on Government Financing and Accountability (COGFA), which provides fiscal data for the Illinois General Assembly, new car sales across the state are already up 8 percent through September. That could put sales for the year past 600,000 units, a jump of more than 40 percent in four years.
The state hit a high of more than 860,000 vehicles sold in 2001, and car dealers no longer feel that those sorts of numbers are out of reach.
“Some in the industry have predicted that within the next year and a half, two years, we may be getting closer to that number,” said Peter Sander, president of the Illinois Automobile Dealers Association.
Sander credits the continuing increases to pent-up demand and consumers feeling more confident.
If the level of growth in car sales continues throughout the year, the state stands to reap big financial benefits. COGFA says Illinois would receive an extra $140 million in sales tax growth from the auto sector alone.