New auto sales are down 16.3% for the first three quarters of 2020 as compared with the same period of 2019, according to information from the Colorado Automobile Dealers Association.
New-vehicle registrations through September 2020 totaled 157,821 versus 188,613 over the same period in 2019. Year-to-date light truck registrations fell 10.9%, while car registrations were down 35.6%.
CADA president Tim Jackson said, “While Colorado’s new vehicle registrations through September are in downhill territory, the percentage of decline has leveled off from a month ago, and Colorado’s numbers are better than the U.S. new vehicle market by nearly a full percentage point. “In Colorado, dealership lots and showrooms have less inventory for sale of certain popular models across brands due to the pandemic. The reason for that is auto manufacturing plants were paused, millions were put out of work, and now automakers are struggling to catch up with inventory demand.”
Other report highlights:
- U.S. retail new vehicle market was off an estimated 17.5% through September 2020.
- Japanese brand registrations were down 19.6%, European brands were down 17.4%, domestic brands were down 14% and Korean brands were down 6.9%.
- Only Lincoln and RAM registrations increased through September 2020. Lincoln increased 3.6% and RAM increased 1.2%.
- Colorado’s top five market share leaders are Toyota, Ford, Subaru, Chevrolet and Jeep. Jeep’s market share in the state exceeded U.S. levels by 1.3 share points.
- Alternative powertrain vehicles (hybrid and electric) were all down in this same period. Hybrid was down 3.8%, electric declined 2.4% and plug-in hybrid was down 0.6%.
- Colorado’s used vehicle market through September declined 17%.
The full report with information by brand can be found at https://bit.ly/34eZHKd
© 2020 BizWest Media LLC
New auto sales fall 16.3% through third quarter - Longmont Times-Call
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