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Monday, 04 January 2021 21:40

Used-Car Sales Likely Down for 2020, but Close Year on High Note

Written by Joe Overby, Auto Remarketing

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Used-vehicle sales for 2020 were expected to finish 6% softer than the final 2019 tally, but it appears the year at least closed on a positive note for pre-owned.

In a forecast released Dec. 28, TrueCar was projecting 3.1 million used-vehicle sales for December, which would beat November sales by 7% and prior-year figures by 6%.

 

That would put the final year-end total at a projected 38.4 million used sales for 2020, a 6% drop from 2019, according to TrueCar.

 

Separately, Cox Automotive analyst Kayla Reynolds said in an earlier December interview that 2020 was expected to close with 36.3 million used-car sales overall, with used retail (sales from dealers) at 19.3 million.

 

For 2021, it is expected that the used total will climb to 39.3 million.

 

On the new-car side, TrueCar was forecasting total sales of 14.6 million for full-year 2020, a 15% drop. For retail new-car sales, specifically, it was projecting 12.7 million, an 8% decline.

 

For December, in particular, TrueCar was projecting...


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