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Used vehicle registrations drop through the third quarter

December 7, 2023

Used vehicle registrations are down 2 percent through the third quarter.

Through September, 29.3 million used vehicles were registered, according to Experian’s Automotive Market Trends for the third quarter.

In the past 12 months, 38 million used vehicles were sold, with 50.9 percent domestic brands.

New vehicle registrations rose 12.7 percent in the past year. In the first nine months of 2023, 11.5 million new vehicles were registered — a 1.3 million rise from 2022.

The report estimated 288.5 million vehicles on the road in the U.S., a rise of almost 4 million in the past year. Utility crossover SUVs and SUVs made up 36.3 percent of the vehicles, matching passenger cars. Light trucks were 27.4 percent.

The full-size pickup is 16.4 percent of the vehicles in operation — the largest for any individual segment by 3 percent.

The number of EVs on the road grew to 3 million. Hybrids are up to 8 million.

NIADA Author

The National Independent Automobile Dealers Association (NIADA) is among the nation’s largest trade associations, representing the used motor vehicle industry comprised of some 40,000 licensed used car dealers. Since 1946, NIADA has represented the voice and interests of used car dealers at the federal level in Washington D.C. Coupled with its state association network across the country, NIADA’s grass-roots framework provides a dual layer of advocacy unmatched in the used motor vehicle industry. For 75 years, NIADA has engineered programs and leveraged technology to fulfill its mission to advance, educate and promote the independent used car dealer. NIADA members subscribe to a strict Code of Ethics of duty, honor and integrity, and believe in the advancement of small business in support of the free-market system. More information about NIADA, visit www.niada.com.