Used Car Sales
To find out the number of private used car sales for PA, NJ, NY, CT, VA, NC, FL, MD and the age segments and demographic information for the sellers.
- According to NIADA, 10,850,924 used cars were sold by private parties in the US.
- The total number of used cars in the US in 2018 was 39,160,518. This means private party sales represent 27.7% of used car sales.
- In 2018, 17.2 million new vehicles were registered in the US. In total, 56,360,518 vehicles (new and used) were sold in the US in 2018. Also, new cars represent 30.5% of all car sales by unit.
- In New Jersey, 581,215 new cars were sold. If this represents 30.5% of the total number of cars sold in 2018, that means around 1.9 million total cars were sold. Also, if 30.5% are new, then 69.5% must be used, equalling 1,324,408.
- If private party sales represent 27.7% of all used car sales, this means around 366,861 cars were sold privately in New Jersey in 2018.
- In New York, 1 million new cars were sold in 2018. Using the same calculations as before, this means around 3,278,689 total vehicles were sold that year. Used cars would total 2,278,689 (69.5%).
- If private party sales represent 27.7% of all used car sales, this means around 631,197 private party used car sales happened in New York in 2018.
Proposed next steps:
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After initial research, we propose continuing this research to find or triangulate the number of private used car sales for Pennsylvania, Connecticut, Virginia, North Carolina, Florida and Maryland. For each state, we will attempt to find concrete statistics first, but if this is not available, we will triangulate a number based on the ratio of private party sales to all used car sales and used car sales to new car sales, as was done in the Early Findings.
Information on the demographics of used car sellers in certain states is not widely available. Instead, we can build a demographic profile of the average (private party) used car seller in the US. This would include things like age, gender, ethnicity, income and so on.