Study Shows That Used Car Sales DOUBLED In May Led By Mazda CX-5 and Honda HR-V
The automotive market has been in upheaval since the disruption began this February. Although things seem to be returning to normal, the used car market has gone bananas. In May, a new study by iSeeCars.com shows that used car sales more than doubled from April, up 105%.
According to an iSeeCars.com’s analysis of around 3.6 million used car sales in April and May, used car sales in April 2020 saw an overall decline of 38.4 percent over the same period in 2019. However, the year-over-year sales decline in May improved to 12.5 percent. Most importantly, used car sales in May 2020 grew 105.5% over April 2020.
Among the vehicles that saw the biggest boost in sales from April to May is the Mazda CX-5 two-row crossover. The CX-5 was up 109% over the previous month. “Redesigned in 2017, the Mazda CX-5 is among the top-ranked vehicles in its class thanks to its driving performance and interior and exterior styling,” said Phone Ly, CEO of iSeeCars.com.
The vehicle that has seen the overall greatest year-over-year growth in sales is the Honda HR-V crossover. It earned a 53.1 percent increase. “The Honda HR-V has been growing in popularity, and 2019 brought its highest new car sales volume since it was introduced in 2016,” said iSeeCars CEO Phong Ly. “The Honda HR-V beats its competitors in passenger room and fuel efficiency, which helps explain its appeal.”
This new study bu iSeeCars.com shows that the used vehicle market is hot right now. Since automakers were unable to produce and deliver the needed volume of new vehicles, shoppers turned to the used market to buy what they could find.
For the full study please check out the iSeeCars.som study summary page.
John Goreham is a life-long car nut and recovering engineer. John's focus areas are technology, safety, and green vehicles. In the 1990s, he was part of a team that built a solar-electric vehicle from scratch. His was the role of battery thermal control designer. For 20 years he applied his engineering and sales talents in the high tech world and published numerous articles in technical journals such as Chemical Processing Magazine. In 2008 he retired from that career to chase his dream of being an auto writer. In addition to Torque News, John's work has appeared in print in dozens of American newspapers and he provides reviews to many vehicle shopping sites. You can follow John on Twitter, and view his credentials at Linkedin