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The used vehicle average selling price jumped to over 26,700 U.S. dollars in 2021, over 4,000 U.S. dollars more than in 2020 but around 37 percent cheaper than the 2021 new vehicle average...
Jan 12, 2022 · Cox Automotive estimated that overall used-vehicle sales for 2021 were 40.9 million, an increase of about 10 percent compared with 2020. Of those, an estimated 22.2 million were retail sales —...
- Record Sales Despite Record Prices
- New Car Shortage = Run on Used Cars
- Record Could Stand For Years
The sales record comes despite record-high prices. December’s numbers aren’t final yet, but Cox Automotive estimates that the average used car sold for $27,569 in November. At the start of 2021, that same figure stood at $21,572. That’s an increase of $5,997, or nearly 28% in one year.
The average used car price spiked due to a host of factors. Americans slowed their car shopping dramatically in 2020, as the COVID-19 pandemic kept millions off the roads. When vaccinations and government stimulus began to reawaken the economy in 2021, America went car shopping. But a worldwide microchip shortagelimited the number of new cars autom...
It’s a record that will probably stand for a long time. Cox Automotive is forecasting 39.3 million used car sales this year. Even after the microchip shortage eases, it will continue to affect the used car market for years. Just as the post-2008 slowdown meant fewer used cars available to sell today, the 2021 production slowdown will mean fewer use...
Jan 12, 2024 · The used car dealer market size in the US was valued at $138.1 billion in 2022. The average price for a one-to-five-year-old used car was around $33,582 in 2023. State-wise, Vermont had the cheapest average used car price at $31,445, whereas Wyoming had the highest average used car price at $41,405.
Jul 25, 2024 · According to data from the U.S. Census Bureau, there were 25,649 used car establishments in the U.S. in 2021. This represents a 2% increase over 2020, when there were 25,186 such dealerships.
The report covers the US Used Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Used Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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Feb 20, 2021 · Total 2020 full-year sales of 14,577,371 units were down 14.6% from 2019 year-end totals. Truck and SUV full-year sales were down 9.6% to 11,058,337 units, while passenger car sales were down 27.0% to 3,519,034 units for 2020.
