U.S. new and used car sales 2010-2022

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.