Tupelo • According to iSeeCars.com’s latest study, national used car sales in May 2020 grew 105.5% over April 2020. The study found which models, vehicle segments, and price points have rebounded faster than others.
COVID-19 led to a steep decline in used car sales beginning in mid-March, but sales began to show signs of recovery in May. According to iSeeCars.com’s analysis of over 3.6 million used car sales in April and May, used car sales in April 2020 saw an overall decline of 38.4 percent over the same period in 2019, but the year-over-year sales decline in May improved to 12.5 percent. Moreover, used car sales in May 2020 grew 105.5% over April 2020. Some models, vehicle segments, and price points have rebounded faster than others – namely pickup trucks and subcompact SUVs, as well as vehicles priced under $10,000.
For the Tupelo area, the study showed sales in May were up 0.4% compared to a year ago and 70.1% higher than April. That makes sense of course as the pandemic ground early everything to a halt. Overall in Mississippil used car sales in May were 15.5% lower than a year earlier.
The vehicles seeing the most growth in May in the Tupelo area compared to a year ago:
1. Honda HR-V – 53.1%
2. Cadillac XT5 – 7.9%
3. Volkswagen Passat 29%
4. Chevrolet Trax – 23.9%
5. Jeep Compass – 17.7%
6. Nissan Rogue Sport – 14.8%
7. Mercedes-Benz GLC – 14.1%
8. Toyota Tacoma – 13%
9. Ford F-150 – 12.2%
10. Jeep Grand Cherokee – 11.8%