Cox: Strong Used Car Growth in 2018 Featured

By Staff Writer March 26, 2018

Used cars should experience strong demand and growth in sales across the U.S. in 2018 as the economy continues its strong performance, while new cars may see a slight downtick as industry headwinds become more pronounced.

Economic conditions improved throughout 2017, helping support 39.3 million used-car sales, up 1.8 percent from 2016. New-car sales, conversely, reached 17.1 million, down 2 percent. The economy is expected to accelerate further in 2018, supporting higher used-car sales of 39.5 million. New-vehicle sales in 2018 are expected to decline to 16.7 million, however.
These forecasts and the trends behind them are explored in the Cox Automotive 2018 Used Car Market Report & Outlook, released at the annual National Automobile Dealer Association (NADA) Show in Las Vegas.

“The U.S. economy in 2018 is ripe for continued strength in used-vehicle sales,” said Jonathan Smoke, Cox Automotive chief economist. Smoke oversaw the compilation of the 2018 Used Car Market Report & Outlook.

“But headwinds are growing, with the greatest risks being rising inflation, higher interest rates, and tightening credit. In this dynamic environment, a clear perspective on the trends impacting the industry is more important than ever.”

Last modified on Monday, 26 March 2018 21:49

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