Page 8 California Auto Outlook California Used Vehicle Market Declined Slightly During First Nine Months of 2024 Percent Change in New and Used Vehicle Registrations YTD ‘24 thru September 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 declined by less than one percent during the first nine months of this year versus year earlier. The new vehicle market fell by 1.7 percent during the same period. As shown on the graph to the left, the 3-year-old or newer market had the largest percentage gain so far this year. Registrations of 4- to 6-year-old vehicles fell 9.7 percent. Weak new vehicle sales in 2022 and falling lease penetration will result in tighter supplies of three year old vehicles in 2025. Toyota Camry and Honda Civic were best sellers in the California used vehicle market (see graphs below). 03. -1.7% -0.6% 7.3% -9.7% -2.8% 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 6651 6939 7320 7500 7846 8705 8825 9622 10260 11265 11466 12817 14970 16055 19994 Hyundai Elantra Ford Fusion Nissan Altima Honda CR-V Nissan Sentra Toyota RAV4 Toyota Prius Toyota Tacoma Ram Pickup Toyota Corolla Chevrolet Silverado Toyota Camry Ford F-Series Honda Accord Honda Civic 6751 7277 7549 10194 11259 11271 12498 12669 14292 15124 15918 16232 19058 19107 20199 Mazda CX5 Toyota Highlander Nissan Altima Honda CR-V Ford F-Series Ram Pickup Chevrolet Silverado Tesla Model Y Toyota Tacoma Honda Accord Toyota RAV4 Tesla Model 3 Toyota Corolla Honda Civic Toyota Camry TOP SELLING MODELS IN USED VEHICLE MARKET Toyota Camry and Honda Civic are Top Sellers 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. Top 15 Selling Models for Vehicles 4-Years-Old or Newer YTD 2024 thru September Top 15 Selling Models for 5- to 8-Year-Old Vehicles YTD 2024 thru September Data sourced from Experian Automotive. 43 California New Car Dealer Quarterly
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