GITNUX MARKETDATA REPORT 2024

The Most Surprising Used Car Sales Statistics And Trends in 2024

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As the automotive industry continues to evolve, it is important to stay up-to-date on used car sales statistics. From average prices and loan terms to popular colors and trade-in values, understanding these figures can help you make informed decisions when buying or selling a used vehicle. In this blog post, we will explore 20 different used car sales statistics from 2020 and 2021 that provide insight into the current state of the market.

The Most Important Statistics
56.7% of total vehicle sales in 2020 were the sales of used vehicles. This statistic is a telling indication of the growing popularity of used car sales in 2020. It demonstrates that more and more people are turning to pre-owned vehicles as a viable option for their transportation needs. This statistic is an important piece of information for anyone interested in the used car market, as it provides insight into the current trends and consumer preferences. Nearly 45% of used car shoppers consider vehicles with over 100,000 miles. This statistic is indicative of the fact that used car shoppers are increasingly open to vehicles with higher mileage. It speaks to the growing trend of people being more comfortable with purchasing cars with higher mileage, which is a boon for used car sales. This statistic is a testament to the fact that used car sales are on the rise, as more and more people are willing to take the plunge and purchase a car with higher mileage.

Used Car Sales Statistics Overview

Certified Pre-Owned (CPO) used car sales hit a record of 294,097 in March 2021.

The record-breaking statistic of 294,097 Certified Pre-Owned (CPO) used car sales in March 2021 is a testament to the growing popularity of used cars. This remarkable figure highlights the fact that more and more people are turning to used cars as a viable option for their transportation needs. This statistic is a clear indication that the used car market is thriving and is an important factor to consider when discussing used car sales statistics.

Automotive ecommerce sales accounted for 21% of total used car sales in 2020.

This statistic is a testament to the power of ecommerce in the used car sales industry. It shows that even in a traditionally brick-and-mortar industry, digital sales are becoming increasingly important. This is a trend that is likely to continue in the future, and it is important for used car dealers to be aware of this and adjust their strategies accordingly.

6.8 million used sedans were purchased in 2020.

This statistic is a testament to the fact that used sedans remain a popular choice among car buyers. It shows that despite the economic downturn caused by the pandemic, people are still willing to invest in used cars. This statistic is a clear indication that used car sales are still going strong and that the used car market is still a viable option for those looking to purchase a vehicle.

The average loan term for a used car is 66.6 months.

This statistic is a key indicator of the current state of the used car market. It reveals that buyers are taking out longer loans to finance their used car purchases, likely due to the rising cost of cars. This could be a sign that buyers are having to stretch their budgets further to afford a used car, or that lenders are offering more attractive loan terms. Either way, it’s an important statistic to consider when discussing used car sales.

The average used car’s age is 11.9 years.

This statistic is a key indicator of the current state of the used car market. It provides insight into the average age of cars being sold, which can be used to gauge the overall health of the industry. It can also be used to compare the age of cars being sold to the age of cars being bought, which can help to identify trends in the used car market. Ultimately, this statistic is an important piece of information for anyone looking to buy or sell a used car.

49.5% of all used cars sold in the U.S in 2020 were purchased by female buyers.

This statistic is a telling indication of the growing influence of female buyers in the used car market. It demonstrates that women are increasingly taking the wheel when it comes to purchasing used cars, and that their presence in the market is becoming more and more significant. This statistic is an important piece of information for anyone looking to understand the current trends in used car sales, and it is an invaluable resource for anyone looking to make informed decisions about their own used car purchases.

UK used car sales increased by 108.6% in Q2 2021.

This statistic is a clear indication that the used car market in the UK is booming. It shows that more and more people are turning to used cars as a viable option for their transportation needs. This is great news for those looking to buy a used car, as it means that there is a wide selection of vehicles available at competitive prices. Furthermore, it is a sign that the economy is recovering from the effects of the pandemic, as people are feeling more confident in their ability to purchase a car.

The most popular used car color in the United States is white, accounting for 23.9% of sales.

This statistic is a key indicator of the used car market in the United States, as it reveals that white is the most sought-after color when it comes to used car purchases. This information can be used to inform decisions about which colors to stock in used car lots, as well as which colors to feature in marketing campaigns. Additionally, this statistic can be used to compare the popularity of different car colors in the used car market, providing valuable insight into consumer preferences.

Approximately 12.1% of used cars sold in 2021 have been luxury vehicles.

This statistic is a telling indication of the current state of the used car market. It suggests that luxury vehicles are in high demand, and that buyers are willing to pay a premium for these vehicles. This could be a sign of a strong economy, as people have the disposable income to purchase these vehicles. It could also be a sign of a shift in consumer preferences, as more people are opting for luxury vehicles over more affordable options. This statistic is an important piece of the puzzle when it comes to understanding the current state of the used car market.

Used vehicle sales in the United States totaled approximately 39.8 million in 2019.

This statistic is a testament to the immense popularity of used vehicle sales in the United States. It shows that despite the availability of new cars, many people still prefer to purchase used vehicles. This statistic is an important indicator of the health of the used car market and provides valuable insight into the preferences of American consumers.

The sales of electric used cars have grown by 79% in 2019 compared to 2018.

This statistic is a clear indication that the used car market is rapidly shifting towards electric vehicles. It shows that more and more people are becoming aware of the environmental and economic benefits of electric cars, and are choosing to invest in them. This is an important trend that should be highlighted in any blog post about used car sales statistics.

The average annual mileage for a used car bought in the US is 22,000 miles.

This statistic is an important indicator of the quality of used cars available in the US. It provides insight into the amount of wear and tear a car has experienced, and can help potential buyers make an informed decision about the condition of the car they are considering. Additionally, it can help used car dealers set realistic prices for their vehicles, as well as provide a benchmark for the quality of cars they are selling.

In 2020, the average trade-in value for a used car was $5,878.

This statistic is a key indicator of the current state of the used car market. It provides insight into the average amount of money that buyers are willing to pay for a used car, which can be used to inform decisions about pricing and other aspects of the used car sales process. Additionally, it can be used to compare the current market to previous years, allowing for a better understanding of the trends in the used car market.

Out of all used car buyers in the U.S., 68% are looking for a specific make or model.

This statistic is a telling indication of the importance of make and model when it comes to used car buyers in the U.S. It suggests that the majority of buyers are looking for something specific, rather than just browsing for whatever is available. This is an important factor to consider when discussing used car sales statistics, as it highlights the importance of having a wide selection of makes and models available to buyers.

The typical used vehicle sold in the U.S. in 2020 had 73,936 miles on it.

This statistic is a telling indication of the current state of the used car market in the U.S. It reveals that the average used car sold in 2020 had a relatively high mileage, suggesting that the demand for used cars is high and that buyers are willing to purchase vehicles with a significant amount of wear and tear. This statistic is an important piece of information for anyone looking to buy a used car, as it provides insight into the average mileage of vehicles on the market.

Conclusion

The used car market is booming, with 56.7% of total vehicle sales in 2020 being the sale of used vehicles and an average price of $25,463 for a used car in 2021. Certified Pre-Owned (CPO) cars are also becoming increasingly popular, as evidenced by record CPO sales numbers in March 2021. Automotive ecommerce has been on the rise too; 21% of all used car sales were made online last year.

Millennials have become major players in this market as well – nearly 75% are considering purchasing a pre-owned vehicle – while female buyers accounted for 49.5%. The most popular color choice among US consumers was white at 23.9%, followed closely by black at 22%. Luxury models make up 12.1% of all purchases and electric cars saw 79% growth from 2018 to 2019 alone.

Overall, it’s clear that there is no shortage when it comes to buying or selling a pre-owned automobile today – whether you’re looking for something specific like 6 million sedans sold last year or just browsing around with an average loan term lasting 66 months – there’s plenty out there to choose from. With 80 percent turning to online sources before making their purchase decision and trade-in values averaging $5,878 per transaction, now more than ever seems like the perfect time to get into the world of secondhand automobiles.

References

0. – https://www.autotrader.com

1. – https://www.iseecars.com

2. – https://www.autolist.com

3. – https://www.finance.yahoo.com

4. – https://www.autoremarketing.com

5. – https://www.cars.com

6. – https://www.electrifying.com

7. – https://www.smmt.co.uk

8. – https://www.businesswire.com

9. – https://www.experian.com

10. – https://www.caranddriver.com

11. – https://www.emarketer.com

12. – https://www.statista.com

FAQs

What is the average price of used cars sold in the market?

The average price of used cars can vary greatly depending on the specific market, vehicle make and model, and other factors. For a more accurate answer, you would need to refer to a dataset or local market report on used car sales.

What is the most popular make and model of used car sold?

The most popular make and model of used car sold can vary by region and changes over time. In recent years, the Honda Civic, Toyota Camry, and Ford F-150 have all consistently shown high sales numbers in the used car market.

How do the used car sales compare between online and offline platforms?

Used car sales have been increasing on online platforms in recent years, with websites such as CarMax, Autotrader, and Cars.com gaining popularity. However, traditional offline dealerships still hold a significant share in the used car sales market. The exact comparison varies depending on the specific market and region.

What is the average time taken to sell a used car?

The average time taken to sell a used car is subject to fluctuation depending on factors such as location, make and model of the vehicle, and economic conditions. Typically, a used car may take anywhere between 30 to 60 days to be sold after being listed, but this number can vary significantly.

What percentage of used car sales are sold with outstanding financial liens or loans?

The percentage of used car sales involving vehicles with outstanding financial liens or loans can differ greatly across different locations and market conditions. In the United States, it has been estimated that about 1 in 3 used cars sold have an outstanding lien. However, this proportion may be different in other countries or regions. Always ensure checking for outstanding liens or loans before purchasing a used car.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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