US used vehicle sales are more than double the number of new vehicle sales
16 July 2019
In the US, the used light-duty vehicle market is more than twice the size of the new light-duty vehicle market for each year shown. Used vehicle sales for 2018 were 40.2 million vehicles, while new vehicle sales were 17.2 million.
Used vehicle sales include pre-owned vehicles sold by dealerships, franchises, independent used vehicle dealers, and private party transactions.
Could it be that the US national market for vehicles is flooded and/or more people cannot afford the high cost of new vehicles.
Posted by: HarveyD | 16 July 2019 at 08:16 AM
If every vehicle is sold two more times as a used car after the initial "new" sale, and if the number of new cars sold each year is roughly constant, then each year there has to be twice the number of used cars sold than new cars......
Posted by: J. Johnson | 16 July 2019 at 10:11 AM
The economy is supposed to be roaring?
Posted by: SJC | 16 July 2019 at 02:46 PM
Never bought a new car until I retired and then bought two. The PU is now 20 years old and the EV is 8. The used cars bargain buys used to be at about the three year mark, especially in the premium market where the depreciation is crippling for the first buyer.
Posted by: Lad | 16 July 2019 at 09:43 PM
Isn't the USA car market being Cubanized with more and more older units in operation??
Posted by: HarveyD | 17 July 2019 at 08:56 AM
For some of us, at least, it's by choice. The more monitoring, surveillance, and 'assist' technology they pack into vehicles, the less interested I am in them. My F-150 is 39 years old, and my Lexus is 15, and I have no desire to replace either of them.
We'll probably continue to buy new vehicles for my wife on our regular 8-10 year cycle, but for me, I think I'm done. When the Lexus finally goes I'll replace it with a nice '65 Impala hopefully.
Posted by: Matthew DeLuca | 17 July 2019 at 11:19 AM