Road to Recovery: Auto Industry Finishes Strong After Tough Year

Car sales are poised to end 2020 on a high note, capping off months of steady recovery after the plunge in sales and production last spring at the onset of the coronavirus pandemic. KTRH Car Pro Jerry Reynolds says auto sales are on pace to finish down about nine percent year-over-year. "Don't forget, 2019 was a great year, so to only be down nine percent at the end of this year is pretty amazing to me, and gives you an idea of just how resilient the auto industry really, truly is," he tells KTRH.

There are still some supply and inventory issues, however. "Very, very popular trucks and SUVs are going to be in short supply in the month of December," says Reynolds. "So for those people who like to wait until that last week of the year, they need to make a move now."

"If somebody wants something really specific---if color matters, if equipment matters---they need to look now, instead of waiting until that last week of the year," Reynolds continues.

Used car inventory took a big plunge earlier in the year, but it is also on the way back. "The used car business started coming back in October, when production of new cars really started coming back online," says Reynolds. "And because December is the biggest month of the year, they'll be trading for a lot more used cars over the next 20 days or so."

As for what kinds of vehicles people are buying in 2020, that has not changed. Pickups and SUVs still rule, according to Car and Driver's ranking of the top vehicles sold so far this year. Ford F-Series trucks are number one, followed by the Chevy Silverado, Dodge Ram, Toyota RAV4, and Honda CR-V rounding out the top five.

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