Le Lézard
Classified in: Transportation
Subject: SVY

Edmunds Experts Forecast 17.1 Million New Vehicles Will Be Sold in 2020


SANTA MONICA, Calif., Jan. 16, 2020 /PRNewswire/ -- 2020 is looking to be another year of historically high new vehicle sales for the automotive industry, according to a new report from the car shopping experts at Edmunds. As part of the Edmunds 2020 Automotive Industry Trends Report, analysts forecast that a total of 17.1 million new vehicles will be sold in 2020, matching last year's tally and marking the sixth year in a row that new auto sales will top 17 million.

Car-buying platform Edmunds.com serves nearly 20 million visitors each month. With Edmunds.com Price Promise(R), shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at over 10,000 dealer franchises across the U.S.

"The auto industry has some decent tailwinds heading into 2020: Strong economic factors such as low unemployment and high consumer confidence are carrying over from last year, finance rates are expected to remain relatively stable, and this is a presidential election year, which historically tends to correspond with a year-over-year lift in new vehicle sales," said Jessica Caldwell, executive director of industry insights at Edmunds.

Although new vehicle sales are expected to be in a healthy place this year, Edmunds analysts note that rising prices present some roadblocks for the industry. According to Edmunds data, the average transaction price (ATP) for a new vehicle in 2019 climbed to an all-time record of $37,183, and prices are only expected to keep rising.

"Prices are shooting up because shoppers are opting for pricey SUVs and trucks packed with more high-tech options than ever before," said Caldwell. "These increased costs, combined with the discontinuation of more affordable options like domestic passenger cars, could prompt shoppers to shift their focus to the used market ? or delay their purchase altogether."

The Edmunds Industry Trends Report also takes a deeper look into other major factors that will shape the industry through 2020:

To read the full report, visit the Edmunds Industry Center.

About Edmunds

Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.

CONTACT:
Talia James-Armand
Senior Manager, Public Relations
PR@Edmunds.com
310-309-4900
http://edmunds.com/about/press

 

SOURCE Edmunds


These press releases may also interest you

at 13:24
Ultimate Holdings Corporation, (Next10, Inc., dba Ultimate Holdings Corporation), (USOTC PINK: NXTN), ("UHC"), is pleased to announce that on August 1, 2020, UHC acquired two privately held Boise, Idaho transportation freight hauling-related...

at 13:23
Alfa, provider of Alfa Systems, the software platform that powers some of America's biggest names in automotive finance, has announced a new, preconfigured edition of its software solution - built exclusively for auto finance in the US. Alfa...

at 13:14
Alternet Systems, Inc. (USOTC: ALYI) today announced that new manufacturing legislation will provide the company an advantage over competitors.  ALYI plans to begin manufacturing its Revolt Electric Motorcycle in Kenya later this year.  The company's...

at 13:00
Some of the key players profiled in the Electric and Autonomous Vehicles Wiring Harness Market include AME Systems (VIC) Pty Limited, Amphenol CTI Industries Inc, Cesar Scott Inc, Electronic Technologies International Inc, Furukawa Electric Group,...

at 13:00
Akima today announced that its subsidiary, RiverTech, has been awarded a task order to provide sustainment support services to the U.S. Army Civil Affairs and Psychological Operations Command (Airborne) (USACAPOC (A)) under the One Acquisition...

at 12:55
Our Design We have brought back our historical motorcycle brand with a modern design and revolutionized the EV sector with the finest #madeinItaly motorcycles with our first three V1 Giaguaro models. We have crafted our products with the finest...



News published on 16 january 2020 at 09:00 and distributed by: