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More Car Titles Being Processed, A Sign Economy Is Improving

From 2009 to 2012, the number of titles the state processed rose almost 9 percent.

cars

Photo: David Defoe (flickr)

SUVs are parked in a line at a GMC dealership.

The Indiana Bureau of Motor Vehicles reports the number of new and used car titles processed by the state continues to rise, which could be seen as another sign the economy is improving.

BMV statistics show that during the economic decline from 2007 to 2009, the number of processed titles dropped. However, from 2009 to 2012, the number of titles the state processed rose almost 9 percent from 1.81 million in 2009 to 1.97 million in 2012.

Auto Dealers Association of Indiana Executive Vice President Marty Murphy says dealers have definitely noticed an upswing in recent years. He says there is more at play than just the improving economy though.

“The combination is some exciting new products, customers who had some kind of pent up sales maybe they were unsure about whether they wanted to take up the challenge of buying a new vehicle and also lots of good new lending options,” he says.

Murphy says sales are up across the board for all sorts of vehicles, but especially fuel efficient vehicles. Murphy says dealers still have some recovering to do, but they are nowhere near as bad as they were during the economic slide.

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