New car sales — a major component of California’s sales tax base — are down substantially in the state, according to a trade group.

New light-vehicle registrations were down 18.5% in the first nine months of the year compared to the same period a year earlier, according to the California Auto Outlook, published this week for the California New Car Dealers Association.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.