Sales of used light vehicles in the United States came to around 38.6 million units in 2022. The same year, approximately 13.6 million new light trucks and automobiles were sold here.
Declining availability of vehicles
In the fourth quarter of 2022, about 285.2 million vehicles were in operation in the United States, an increase of under one percent year-over-year. The rising demand for vehicles paired with the automotive semiconductor shortage means that used vehicle inventories are declining. As a result, used vehicle prices and new vehicle prices are expected to increase.
E-commerce: a solution for the bumpy road ahead?
Financial reports have revealed how the outbreak of the coronavirus pandemic has triggered a shift in vehicle-buying behavior. With many consumer goods and services now bought online due to COVID-19, the automobile industry has also started to digitally integrate its services online to reach consumers with a preference for contactless test driving amid the global crisis. Several dealers and automobile companies had already begun to tap into online car sales before the pandemic, some of them being Carvana and Tesla.
New and used light vehicle sales in the United States from 2010 to 2022
(in million units)
The figures for 2010 through 2016 were taken from the National Transportation Statistics report (table 1-17), published by the U.S. Department of Transportation in May 2020. Figures prior to 2022 were retrieved from earlier publications by the source.
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Experian. (March 30, 2023). New and used light vehicle sales in the United States from 2010 to 2022 (in million units) [Graph]. In Statista. Retrieved October 30, 2024, from https://www.statista.com/statistics/183713/value-of-us-passenger-cas-sales-and-leases-since-1990/
Experian. "New and used light vehicle sales in the United States from 2010 to 2022 (in million units)." Chart. March 30, 2023. Statista. Accessed October 30, 2024. https://www.statista.com/statistics/183713/value-of-us-passenger-cas-sales-and-leases-since-1990/
Experian. (2023). New and used light vehicle sales in the United States from 2010 to 2022 (in million units). Statista. Statista Inc.. Accessed: October 30, 2024. https://www.statista.com/statistics/183713/value-of-us-passenger-cas-sales-and-leases-since-1990/
Experian. "New and Used Light Vehicle Sales in The United States from 2010 to 2022 (in Million Units)." Statista, Statista Inc., 30 Mar 2023, https://www.statista.com/statistics/183713/value-of-us-passenger-cas-sales-and-leases-since-1990/
Experian, New and used light vehicle sales in the United States from 2010 to 2022 (in million units) Statista, https://www.statista.com/statistics/183713/value-of-us-passenger-cas-sales-and-leases-since-1990/ (last visited October 30, 2024)
New and used light vehicle sales in the United States from 2010 to 2022 (in million units) [Graph], Experian, March 30, 2023. [Online]. Available: https://www.statista.com/statistics/183713/value-of-us-passenger-cas-sales-and-leases-since-1990/