Page 8 California Auto Outlook California Used Vehicle Market Declined in 2023 Percent Change in New and Used Vehicle Registrations 2023 vs. 2022 THREE KEY TRENDS IN USED VEHICLE MARKET Data sourced from Experian Automotive. CALIFORNIA USED VEHICLE MARKET 01. 02. The California used vehicle market declined 3.2 percent from 2022 to 2023, compared to the 11.9 percent increase in new vehicle registrations. California used light vehicle market is expected to be flat in 2024 as tight supplies continue to hold back sales. As shown on the graph to the left, the 7- to 10-year-old market held up relatively well last year, with registrations declining by less than 1 percent. The 4-to -6-yearold market fell by 8.1 percent. 03. 11.9% -3.2% -2.7% -8.1% -0.9% 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 9071 9464 9508 11138 11485 11662 11742 13488 16323 16554 17127 17199 18152 23488 28270 Hyundai Elantra Ford Fusion Honda CR-V Toyota RAV4 Ram Pickup Toyota Tacoma Nissan Sentra Nissan Altima Chevrolet Silverado Toyota Prius Toyota Camry Toyota Corolla Ford F-Series Honda Accord Honda Civic 8780 9271 9278 10705 12857 16662 16906 17247 17638 18202 20171 21693 24808 25969 29967 Toyota Highlander Mazda CX5 Nissan Sentra Nissan Altima Honda CR-V Chevrolet Silverado Ford F-Series Ram Pickup Tesla Model 3 Toyota Tacoma Toyota RAV4 Honda Accord Toyota Corolla Toyota Camry Honda Civic TOP SELLING MODELS IN USED VEHICLE MARKET Honda Civic is Top Seller in Used Vehicle Market The two graphs below show the top 15 selling models in California for two age classifications: vehicles 4-years-old or newer, and 5- to 8- year-old vehicles. Honda Civic was the leader in both categories. Top 15 Selling Models for Vehicles 4-Years-Old or Newer 2023 Top 15 Selling Models for 5- to 8-Year-Old Vehicles 2023 Data sourced from Experian Automotive. 38 California New Car Dealer Quarterly
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