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SANTA MONICA, Calif., Jan. 21, 2021 /PRNewswire/ The car shopping experts at Edmunds say that the auto industry is on track for greater stability and healthier sales this year, forecasting that 15.5 million new cars will be sold in 2021. Edmunds analysts note that this would represent a 6.5% lift compared to last year. 2020 was an incredibly tumultuous year for the industry, but some unique market conditions helped retail sales end up in a much stronger place than anticipated, and the good news is that these should serve as some decent tailwinds into 2021, said Jessica Caldwell, Edmunds executive director of insights. Despite the economic hardships faced by so many Americans during the pandemic, there s still a large population of well-off consumers who have been taking advantage of favorable financing conditions and sustaining healthy demand in the new car market.
New Vehicle Sales Expected to Close 2020 Stronger Than Anticipated, According to Edmunds
Edmunds analysts forecast that 14.4 million new vehicles will be sold in 2020 despite significant challenges created by the COVID-19 pandemic
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SANTA MONICA, Calif., Dec. 17, 2020 /PRNewswire/ The car shopping experts at Edmunds forecast that 4,036,744 new cars and trucks will be sold in the U.S. in the fourth quarter of 2020. This reflects a 2.8% increase in sales from the third quarter but a 5.7% decrease from Q4 of 2019. Edmunds analysts also estimate that 14,416,447 new vehicles will be sold in 2020, which reflects a 15.5% decrease in sales from 2019. Although this will put 2020 on track to be the lowest sales year for the automotive industry since 2011, Edmunds experts say that the number is much stronger than expected given major disruptions created by the outbreak of the coronavirus (COVID-19) pandemic.