Colorado’s new vehicle registrations decline YTD and for June versus year earlier
Denver—The Colorado Automobile Dealers Association (CADA), released its newly formatted and redesigned “Colorado Auto Outlook” reports that Colorado new car and light truck registrations, year to date (YTD), declined 3.3 percent versus a year earlier. That compares to a 1.2 percent increase nationally. In a month-to-month matchup, new vehicle registrations in the state declined 11.2 percent in June 2018 versus June 2017.
The YTD 3.3 percent decrease results from 96,991 new vehicles registered so far in 2018 versus 100,251 registrations in the same period last year. In the month-to-month comparison, 13,013 new car and light trucks were registered in June 2018 versus 14,652 in June 2017 for a 11.2 percent decrease.
• Light truck registrations increased 1.1 percent through June while passenger cars declined 14 percent.
• The used vehicle market (seven years old or newer) improved slightly, up 2.8 percent.
• Registrations increased by more than 7 percent for Tesla, Volvo, Land Rover, MINI, BMW and Honda.
• Colorado’s market share leaders through June 2018 were Toyota, Subaru, Ford, Honda and Chevrolet.
• Non-luxury SUVs led in market share at 44 percent, year to date, followed by pickups and vans at 22 percent. Small cars grabbed only 12 percent market share.
• The top five selling hybrid and electric vehicle registrations through May are Toyota RAV4 PHEV, Toyota Prius PHEV, Nissan Leaf, Toyota Highlander PHEV and Tesla Model X.
• In related data, hybrid powertrain and electric vehicle market share (for April and May 2018 only) pegged at 2.5 percent hybrid; 1.7 percent electric; and 1 percent for plug-in hybrid.