As we approach mid-year 2023, the growth of electric vehicles (EVs) continues to be a hot topic in the automotive industry. Prices of EVs are beginning to decrease, becoming more in line with the cost of traditional gas-powered vehicles. As technology continues to improve and production costs decrease, we can expect to see more affordable EVs in the future. This is already taking shape as we see many OEMs increasing their EV market share since January. 

In general, the used car industry has been experiencing a period of growth and change over the past several years. Some of the key trends that have taken place recently in the industry include shortage of inventory, rising prices, and growth of electric vehicles. Even with these obstacles, used vehicle sales have continued to thrive.

Electric vehicles continue to emerge as the way of the future. Learn how California incentivizes residents to purchase electric cars through the California Clean Vehicle Rebate Project.

The auto sales industry is not new to disruptions and rapid shifts. The past five years alone saw major economic fluctuations, the birth of ride share apps, and the growth of online automotive sales. Still, the dealership model remained strong. 

Then the COVID-19 pandemic hit. Overnight, traffic dropped over 70% in major cities and worldwide manufacturing ground to a halt. 

In Part 1 of this blog series, we spoke about the used vehicle market and the  evolution of Carvana in the overall market. In this series, we'll share an inside look at the used vehicle sales data from big states with a heavy Carvana presence and how the dealerships within those states are stacking up. 

In the face of 2020’s unrivaled challenges, the auto industry stood firm. To determine the industry’s performance despite all odds, the Cross-Sell team ran an analysis on 2020’s full year of used vehicle sales data. We combed the state sales data to isolate the pandemic’s top-performing used car sellers, segments, makes, and models. Here’s what we discovered.

Despite the unprecedented challenges presented throughout 2020, the auto industry rose to the occasion. Our team at Cross-Sell ran an analysis of our database to isolate the pandemic’s top-performing New Sellers, Segments, and Vehicles to close out 2020. Here’s what we discovered.

As with many industries across the United States, the automotive industry has been rocked by COVID. We’re still adapting to all of the changes, but we learn more with each day.