Commentary & Voices
Six Predictions for the 2021 Automotive Market
Friday January 8, 2021
Article Highlights
- The Research & Market Intelligence team at Cox Automotive has given thought to what lies ahead.
- Grounded by consumer and dealer research, our team of experts has laid out Six Predictions for the 2021 Automotive Market.
- Cox Automotive is relatively bullish on the coming year.
Predicting the future has long been a hazardous business, as crystal balls are more often anything but crystal clear. Indeed, consider any forecast offered in January 2020: An economy-crashing pandemic was not in the cards.
Still, as we face a new year, the Research & Market Intelligence team at Cox Automotive has given thought to what lies ahead. Grounded by consumer and dealer research collected in early December, our team of experts has laid out Six Predictions for the 2021 Automotive Market – our prognosis on the trends that will influence the industry in 2021.
Cox Automotive is relatively bullish on the coming year. Our January forecast for new-vehicles sales in 2021 is 15.7 million, growth of 9% from 2020. Used-vehicles sales are also forecast to improve versus year-ago levels. And yet, Prediction #1: Even With a Vaccine, Things Won’t “Return to Normal” in 2021. In fact, the economy and specifically the auto industry will be hunting for a new normal in 2021, a world distinct and different from whence we came only one year ago.
If you have questions or would like to discuss the findings, reach out to the Cox Automotive Public Relations Team.