To nobody’s surprise, 2020 was a rough year for the auto industry. Sales were noticeably lower than in previous years. However, experts predict that auto sales will be making a comeback this year.
California Governor Gavin Newsom recently signed an executive order that will ban the sales of newly built gas-powered cars by the year 2035. He said the ban would help in the fight against climate change as more people make the switch to electric, zero-emission vehicles. The order would still allow the sale and ownership of used cars.
Recent estimates from the Bureau of Economic Analysis (BEA) showed that more car buyers bought domestic vehicles than their foreign counterparts. This comes as the U.S. auto market is attempting to recover from the lockdown as a result of the COVID-19 pandemic.
After a two-year hiatus, Ford Motor Company has decided to release its U.S. monthly sales reports again. This was reported by Bloomberg and picked up by Automotive News.
A recent report from iSeeCars showed that the average price for a used car during the month of August increased 4.1% over the previous month. Last month’s average price was $23,705, compared to $22,764 in July.
With new car sales staging a comeback last month after a horrible showing the previous month, all signs also point to more people getting rid of their junk cars.