Current forecast is for the state market to fall by 15 percent for all of this year, compared to U.S. new vehicle market estimated at 20.1 percent
Denver—Colorado’s overall new vehicle market declined 17.8 percent versus the same period in 2019, according to the Colorado Automobile Dealers Association (CADA), which released its latest “Colorado Auto Outlook” in August, covering data through the first seven months of 2020.
“The Covid-19 pandemic continues to sicken the U.S. economy and auto sales specifically,” said CADA President Tim Jackson, adding that new vehicle registrations through July remained in negative territory though the decline had leveled off from June.
• New vehicle registrations in Colorado declined 21 percent during the past two months (June and July combined) versus the same period a year earlier.
• July was off by 17.2 percent, an improvement from the 24.7% drop in June.
• U.S. retail new vehicle market was off an estimated 20.1 percent. Current forecast is for the state market to fall by 15 percent for all of this year.
• Registrations increased for two brands so far this year: Lincoln and Ram.
• Toyota, Ford, Subaru, Chevrolet, and Jeep were market share leaders in Colorado. Jeep market share in the state exceeded U.S. levels by 1.3 share points.