New vehicle registrations through the first eight months of 2020 were down 16.5% in Colorado compared to the same period last year, according to the “Colorado Auto Outlook” from the Colorado Automobile Dealers Association.
There were 139,717 vehicles registered through August of this year compared to 167,414 in the same period last year. Light truck registrations are down 11% so far this year, while car registrations are down 36.1%.
Showrooms are open, and online sales remain a popular option, but dealers continue to cope with inventory shortages and manufacturers who are pulling back on incentives, said CADA president Tim Jackson.
“The pandemic continues to restrain the U.S. economy and specifically disrupt auto sales. In Colorado, new vehicle registrations through August are still in negative territory, although the percentage of decline has improved from a month ago,” he said in comments accompanying the monthly report.
Last month, year-to-date registrations were down 17.8%. In June they were down 17.9% and in May, they were down 16.5%.
Nor are financially stretched buyers switching to used vehicles. Registrations for used vehicles were down 18.1% year-to-date in Colorado. Vehicle registrations, at least for now, seem stuck in a holding pattern.