Colorado New Car Sales See Double-Digit Growth in 2021 | Business

Coloradans bought and registered 10% more “light cars” in 2021 than during the 2020 pandemic low, and electric vehicle sales exploded with an 81% year-over-year increase, according to a Colorado Automobile Dealers Association report.

New vehicle sales in the first three quarters of 2021 increased across the board, but fell in the fourth quarter due to supply chain issues, difficulties obtaining computer chips and low inventory at dealerships .

Buyers registered 242,936 new vehicles in Colorado in 2021, compared to 220,921 in 2020. Projections for 2022 are 244,400, according to the report.

Enrollments in Southern Colorado, which includes Colorado Springs and Pueblo, rose 8.3% from 2020 to 34,918 in 2021, well behind the 13.5% gain in Northern Colorado and an increase 13% on the western slope during the same period. Denver-area enrollment in 2021 is up 9.5% from 2020.

“New retail light vehicle registrations in the state last year increased 10%, better than the estimated 5% increase in the United States,” according to the report. “It was definitely not a smooth ride, though. The market rose 19% in the first nine months of the year compared to the previous year, but fell in the fourth quarter. »

Coloradans love their trucks — sales of “light trucks” (which include SUVs) were up 12.3% from 2020, and they accounted for 85.5% of the entire Colorado auto market, with 207 824 registrations in 2021.

Although EV sales are showing strong year-over-year increases, the numbers were a far cry from the sale of gasoline-powered trucks or cars. Registrations of electric vehicles increased by 53% in 2021 with 11,420 registrations compared to 7,488 in 2020. Registrations of hybrid vehicles increased by 91% in 2021 with 17,678 registrations compared to 9,250 in 2020. Registrations of plug-in hybrid vehicles increased by 153% in 2021 with 4,451 registrations compared to 1,762 registrations in 2020.

“Last year was a hilly ride for new vehicle registrations in Colorado with ups and downs in the market due to the ongoing pandemic, supply chain issues in the auto industry, chip shortages and low inventory at our dealerships statewide,” Association President Tim Jackson said in a press release, “Meanwhile, consumers continued to purchase new vehicles and overall registrations ended up in double-digit positive territory.

“Looking forward, we anticipate more uncertainty with the economy and yet over 44,000 vehicle purchases were deferred in Colorado between last year and this year, which will have a positive effect on registrations in 2022.”

Other report highlights:

• Toyota was the market share leader in Colorado with 14.1%, followed by Ford (10.6%), Subaru (10.6%) and Honda and Chevrolet tied at 7%.

• The top-selling model in the state was Ford F-Series trucks (4.6%), Ram pickups (4.5%) and the Toyota RAV4 (3.1%).

• Used vehicle registrations in Colorado rose 16.5% last year, well above the 10% increase in the new vehicle market.