DENVER — The Colorado Automobile Dealers Association (CADA) on Monday released its “Colorado Auto Outlook,” covering data through the first six months of 2020.
Colorado’s overall new vehicle market declined 17.9% versus the same period in 2019. New vehicle registrations through June 2020 totaled 102,549 versus 124,835 over the same period in 2019.
Year-to-date light truck registrations fell 12.5%, while car registrations were down 36.5% versus the first six months of 2019.
CADA President Tim Jackson said, “The dip in Colorado’s new vehicle registrations through June reflects our nation’s economic downturn due to the COVID-19 pandemic. Stay-at-home orders, plant shutdowns and extensive job and wage losses have contributed to the lack of sales.
“On a bright note, Colorado’s new car dealers report an improving demand curve, due to steady gas prices and low interest rates. They are actively selling new cars and trucks online with test drives and home deliveries.”
Other highlights year to date
The U.S. retail new vehicle market was off an estimated 20.7% in the first half of 2020.
Japanese brand registrations were down 20%; European brands were down 19.6%; Domestic brands were down 16.6%; and Korean brands were down 8.4%.
Only Lincoln, RAM and Kia registrations have increased so far this year. Lincoln increased 6.4%; RAM increased 4.2%; and Kia increased 1.5%.
Colorado’s top five market share leaders are Toyota, Ford, Subaru, Chevrolet and Jeep. Subaru’s market share in the state exceeded U.S. levels by 5.8 share points.
Compared to percentage of overall Colorado market, alternative powertrain vehicles (hybrid and electric) were all down in this same period compared to 2019. Hybrid was down 3.5%; electric declined 2.3%; and plug-in hybrid was down 0.6%.
Colorado’s used vehicle market for the first six months declined 22.2%. (Used vehicle sales reflect transactions on cars seven years old or newer).
The Colorado Auto Outlook was prepared for CADA by Auto Outlook, Inc., an independent automotive market research firm in Exton, Penn. All data represent new retail registrations in Colorado and excludes fleet transactions.
Editor’s Note: Registration numbers versus sales numbers run about two months behind, compared to actual sales. Year-to-date figures typically reflect market results. Monthly registration figures can fluctuate, resulting in over or under estimation of actual results, due to processing delays by governmental agencies.
For a copy of the Colorado Auto Outlook email The InterPro Group at firstname.lastname@example.org, or call 303-503-6677.