New Vehicle Sales Expected to Stay Strong in the Second Quarter, According to Edmunds - AutoSuccessOnline

New Vehicle Sales Expected to Stay Strong in the Second Quarter, According to Edmunds

Analysts say robust April sales helped offset a weaker end to the quarter as inventory and chip shortages continue to worsen, but note that consumer demand remains high

The car shopping experts at Edmunds forecast that 4,468,791 new cars and trucks will be sold in the U.S. in the second quarter of 2021, which reflects a 51.6% increase from the second quarter of 2021 and a 14.8% increase compared to the first quarter of this year.

“New vehicle sales in the second quarter started off with a bang in April thanks to a combination of a speedier-than-anticipated vaccine rollout and many Americans itching to  jump into a new vehicle and on the road toward some semblance of normal life,” said Jessica Caldwell, Edmunds’ executive director of insights. “Unfortunately the chipset and inventory shortages really came to a head and outstripped supply in June. This isn’t a problem that’s going away anytime soon, but the silver lining for automakers and dealers in the meantime is that consumer demand continues to run high and shoppers are clearly willing to pay inflated prices for the vehicles that they want.”

Edmunds experts note that current market conditions mean that consumers should be prepared to consider other options if they’re looking to make a new vehicle purchase over the Independence Day weekend:

  • Don’t get too set on one color or car. Inventory is limited these days. Have backup picks in colors and even a range of different models to give yourself the most flexibility. 
  • Consider another brand. If you’re having trouble locating a certain model, consider its equivalent at another brand. It may not be one you’re familiar with, so make sure to research it well and you could potentially have more to choose from. 
  • Try a sedan in place of an SUV or truck. Trucks and SUVs are by far the most popular vehicles today, which means that they will be more expensive and harder to find. Modern sedans offer more space than ever and, in theory, should be easier to find on a dealer lot. 
  • Shopping new? Consider used. Shopping used? Consider new! In today’s market, it’s best not to leave any stone unturned. There may be situations in which a new car might be a better value than a used car, or vice versa. Make sure to explore all your new car or used car options.

“The Fourth of July is going to look a little different this year compared to years past. Instead of being able to stroll into a blowout bargain barbecue event at a dealership, consumers should shop around for deals online beforehand and be ready to pull the trigger as soon as they find what they want,” said Ivan Drury, Edmunds’ senior manager of insights. “Shoppers who are flexible and have a trade-in are in the best position to secure the best deal this weekend. And given current lower interest rates, consumers might find the best incentives through lease deals rather than cash discounts.”

SALES VOLUME FORECAST, BY MANUFACTURER

SALES 

VOLUME
2021 Q2 

Forecast
Q2 2020 

Sales
Q1 2021 

Sales
Change 

from Q2 

2020
Change 

from Q1 

2021
GM692,169492,745642,57140.5%7.7%
Toyota686,539398,029603,06672.5%13.8%
Stellantis519,070367,086476,90941.4%8.8%
Hyundai/Kia508,409270,699335,13787.8%51.7%
Honda488,297293,502347,09166.4%40.7%
Ford479,538433,869521,33410.5%-8.0%
Nissan298,474177,328285,55368.3%4.5%
VW/Audi200,570101,605144,25697.4%39.0%
Industry4,468,7912,948,3823,894,15651.6%14.8%

MARKET SHARE FORECAST, BY MANUFACTURER

Market Share2021 Q2 

Forecast
Q2 2020 

Sales
Q1 2021 

Sales
Change from 

Q2 2020
Change from 

Q1 2021
GM15.5%16.7%16.5%-7.3%-6.1%
Toyota15.4%13.5%15.5%13.8%-0.8%
Stellantis11.6%12.5%12.2%-6.7%-5.2%
Hyundai/Kia11.4%9.2%8.6%23.9%32.2%
Honda10.9%10.0%8.9%9.8%22.6%
Ford10.7%14.7%13.4%-27.1%-19.8%
Nissan6.7%6.0%7.3%11.1%-8.9%
VW/Audi4.5%3.4%3.7%30.2%21.2%

For more information visit http://edmunds.com/about/press

You May Also Like

DOWC Is One of New Jersey’s Best Places to Work

DOWC received high marks for its workplace environment, company ethics and policies, and for providing an opportunity for growth.

NJBIZ has unveiled the 2023 NJBIZ Best Places to Work honorees, and DOWC announced it has made the list, according to an article on NJBIZ.com.

DOWC was categorized as a “medium-sized company" (50-249 employees) and received high marks for its workplace environment, company ethics and policies, and for providing an opportunity for growth.

DealerBuilt Pulls into Service Lane with Acquisition of iService Auto

iService’s solution is a key piece in an M&A strategy that unlocks the ability for DealerBuilt customers to run all their departments on one integrated platform.

Mopar, Petra Partner to Launch New Maintenance Products

Petra will provide a suite of Mopar products, including chemicals to help maintain the fuel system, diesel fuel system and A/C systems of the vehicles serviced.

Dealerware, Tekion Partnership Saves Time with Self-Service Check-In, Automated RO Tracking

The Tekion and Dealerware partnership utilizes Dealerware API to automate the flow of customer information between Tekion DMS and Dealerware’s courtesy loaner management platform.

CarNow Appoints Kayne Grau as New CEO

CarNow recently announced the appointment of Kayne Grau as chief executive officer and as a member of the Board of Directors, effective immediately. Grau will work closely with the CarNow leadership team to accelerate product innovation, strengthen the company’s network of industry partners and grow its customer base. Related Articles – Dealer Funnel Welcomes Dan

Other Posts

Lotlinx Introduces Customized Dealer Performance Reports

The Lotlinx Risk Report helps dealers understand how they compare in the local market and identifies multiple areas of potential risk.

Dealer Alchemist Is Inc. 5000 Honoree for Second Consecutive Year

With a ranking of No. 1055 in 2023, the company has demonstrated a 560% growth over the past three years.

ACERTUS Acquires RCG Logistics

This latest investment will allow ACERTUS to extend its product offerings with salvage and repossession and deliver products and services to additional VIN types, including motorsports and RVs.

UpdatePromise, Infomedia Power Rebranding of Kia My Service

KIA Superservice SLT Powered by UpdatePromise provides a comprehensive suite of features designed to streamline vehicle maintenance and elevate the overall ownership experience.