California Auto Outlook California Used Vehicle Market Declined Slightly in First Half of This Year Percent Change in New and Used Vehicle Registrations YTD ‘24 thru June vs. YTD ‘23 THREE KEY TRENDS IN USED VEHICLE MARKET Data sourced from Experian Automotive. CALIFORNIA USED VEHICLE MARKET 01. 02. The California used vehicle market fell by just 0.4 percent during the first six months of this year versus year earlier. The new vehicle market was off by 0.7 percent during the same period. Results for the rest of this year should be similar to the first half, with a small increase possible. As shown on the graph to the left, the three year old or newer market fared better so far this year, but the increase was primarily attributable to weak new vehicle sales in 2020. Three year old or newer vehicles this year consists of model years 2021 or newer. Last year, it included vehicles from the 2020 model year when new vehicle sales were held back by the pandemic. 03. -0.7% -0.4% 7.2% -11.0% -2.9% New vehicles All used vehicles 3-year-old or newer used vehicles 4- to 6-year-old used vehicles 7- to 10-year-old used vehicles 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 4 yrs. old or newer 5 to 8 yrs. old USED VEHICLE BRAND MARKET SHARE Brand Market Share for Top 15 Selling Brands, by Vehicle Age (YTD ‘24 thru June) Ford market share was higher for vehicles 5- to 8-years-old. Data sourced from Experian Automotive. The graph below shows used light vehicle registrations by brand for two age categories: vehicles less than 4-years-old and vehicles 5- to 8-years-old. Brands are positioned from left to right based on overall market share. Toyota was the best-selling brand for vehicles less than 4-years-old. Toyota is Top Seller in California Used Vehicle Market 39 California New Car Dealer Quarterly
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