First Quarter 2024 4.6% -2.6% 6.8% -10.8% -3.1% New vehicles All used vehicles (10 yrs. old or newer) 3 year old or newer used vehicles 4 to 6 year old used vehicles 7 to 10 year old used vehicles SAN DIEGO COUNTY USED VEHICLE MARKET County Used Vehicle Market Declined in First Quarter of 2024 Percent Change in New and Used Vehicle Registrations YTD 2024 thru March vs. YTD 2023 Data sourced from Experian Automotive. THREE KEY TRENDS IN USED VEHICLE MARKET 01. 02. 03. The county used vehicle market fell by 2.6% during the first three months of this year versus year earlier. The new vehicle market improved by 4.6% during the same period. County 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 three year old or newer market was up so far this year, but the increase was primarily attributable to weak new vehicle sales in 2020. Three year old or newer vehicles this year consists of model years 2021 or newer. Last year, it included vehicles from the 2020 model year when new vehicle sales were held back by the pandemic. 220 224 235 289 291 304 308 325 357 409 452 499 534 544 556 Nissan Rogue Mazda CX5 Nissan Altima Ram Pickup Honda CR-V Ford F-Series Honda Accord Chevrolet Silverado Tesla Model Y Tesla Model 3 Toyota Camry Honda Civic Toyota RAV4 Toyota Tacoma Toyota Corolla TOP SELLING MODELS IN USED VEHICLE MARKET Corolla and Civic Are Top Sellers in County Used Vehicle Market The two graphs below show the top 15 selling models in San Diego County 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 March Top 15 Selling Models for 5 to 8 Year Old Vehicles YTD 2024 thru March 202 203 205 246 259 259 272 272 279 296 303 315 367 411 522 Hyundai Elantra Nissan Rogue Mazda CX5 Toyota Prius Honda CR-V Chevrolet Silverado Honda Accord Toyota RAV4 Nissan Sentra Ram Pickup Toyota Camry Toyota Corolla Toyota Tacoma Ford F-Series Honda Civic Data sourced from Experian Automotive. 30 SAN DIEGO DEALER
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