Automobile industry

It is expected that the sales of new cars in the United States will increase by 16 million in 2021 From TrueCar

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The following is the It is expected that the sales of new cars in the United States will increase by 16 million in 2021 From TrueCar recommended by recordtrend.com. And this article belongs to the classification: Automobile industry.

According to foreign media CNET, 2020 is not a good year for automobile manufacturers, which are faced with such problems as production stoppage and sales slump. Although the epidemic continues to rage with the introduction of the vaccine, a new forecast shows that the auto industry should gradually return to normal in 2021. Truecar released its forecast for 2021 on Thursday, and its analysts believe new car sales in the United States will reach 16 million in 2021.

This figure, which includes the total number of retail and fleet sales, marks a significant increase from 2020. Last year, sales of new cars in the United States fell sharply, with 14.6 million vehicles sold. It’s the worst year for automakers since 2012. Car sales increased year by year throughout the rest of the decade, then leveled off in 2016, hovering around 17 million vehicles.

Truecar forecasts that new car sales in the U.S. will grow by 10% in 2021 over 2020, which will be a welcome return to normal, though still lower than in 2019 – the last year before we can incorporate the impact of the covid-19 into our sales figures. That year, the industry sold 16.9 million cars.

Nick Woolard, chief industry analyst at truecar, said: “2020 is a challenging year for the automotive industry and the economy as a whole, but the pace of recovery is faster than most people expect, which provides strong momentum and pent up demand for 2021. Retail demand is healthy and will continue to be the driver of total vehicle sales in 2021. Due to the uncertainty of travel, fleet sales will also grow, but the growth rate will slow down greatly. “

“As the K-type recovery begins to take shape in 2021, we expect high-income families not affected by the pandemic to continue to buy new cars,” Woolard added. The continued trend of large trucks, SUVs and more and more electric vehicles, as well as the additional safety and technology content, will lead to higher average transaction prices in 2021. ” For 2021, truecar expects the average price of new cars to be $37925, down slightly from $40000 in the previous quarter.

As people choose more SUVs and trucks, this may continue to drive up new car prices in the foreseeable future. However, the company also said that the price of electric vehicles may not fall. As more automakers launch electric vehicles, their higher prices may also start to push up the average price.

More reading from cnBeta: Edmunds & truecar: U.S. auto sales are expected to decline by 34% in the second quarter of 2020 EPA: U.S. average fuel economy will decline in 2019 J.D. Power & LMC Automotive Markit: the average service life of U.S. cars in 2019 has reached 11.8 years. Top 10 Ford Auto sales in 2018 J.D.Power: Reliability Research Report of U.S. cars in 2017 emarketer: online advertising investment of U.S. auto industry in 2015 is expected to reach $3.24 billion goodcarbadcar: Top 10 model of the best-selling car in April 2019 J.D. Power & LMC Automotive: U.S. auto sales are expected to reach 2.94 million in Q1 2019 and 17.2 million in 2017 China Automobile Circulation Association: April 2020 monthly report of China’s imported automobile market China Automobile Circulation Association: 57 new authorized 4S stores for luxury brands in the first quarter of 2020, 41 online 4S stores returned

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