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Colorado Auto Outlook

Covering data through Third Quarter 2021

New vehicle registrations in Colorado increased 18.5% through September 2021

Forecast calls for 6.6% increase
for 2021 by year end

The Colorado Automobile Dealers Association (CADA) today released its Third Quarter 2021 “Colorado Auto Outlook,” reporting that the new vehicle market maintained momentum at an 18.5% increase during the first nine months of this year, versus the same period in 2020. Colorado's gain was slightly larger than the U.S. market, which showed an 18.2% increase through the same year-to-date period.

LIGHT TRUCK MARKET INCREASES 21.6%

Light truck market share (including SUV, pickup and van sales) made up 85.6% of the total Colorado vehicle market, netting 160,158 registrations, versus 131,666 last year, for a 21.6% increase.

NEW CARS MARKET DECREASES 2.2%

New car market share made up 14.4% of the total Colorado vehicle market on 26,851 registrations, versus 26,155 last year, for a drop of 2.2%.

COLORADO RANKS HIGH IN ELECTRIC AND HYBRID VEHICLE MARKET

Colorado ranks sixth among states in sales of electric and plug-in hybrid vehicles, with 3,9% market share YTD. Colorado follows California (7.3%), Oregon (5.1%), Washington (4.9%), Hawaii (4.8%) and Nevada (4.3%).

CADA President Tim Jackson said, "Demand for new trucks and vehicles remain high in Colorado, but future sales and registrations will be hampered by production and supply-related bottlenecks, along with a matrix of factors related to the chip shortage, transportation logistics, availability of labor and low inventory. Meanwhile, consumers who want to buy new vehicles continue benefitting from historically low interest rates, rising wages, accumulated savings, record-high household net worth and demand for new products coming into the market. In aggregate, these factors could slightly increase new vehicle registrations in the next quarter and into 2022."

Other Highlights Year to Date 2021 vs. same period 2020

Market share for the top five selling brands in Colorado include Toyota leading with a 14.1% market share, followed by Ford (10.3%), Subaru (9.6%), Chevrolet (7.3%) and Honda (7.0%).

Market share for the top five selling models in the state are the RAM pickup (4.5%), Ford F-Series (4.4%), Toyota RAV4 (3.1%), Toyota Tacoma (2.8%) and Chevrolet Silverado at 2.7%.

Among major brand categories, Korean brands had the largest registration increase YTD at 34.2%, followed by European (23.6%), Japanese (18.7%) and domestic brands (14.1%).
Used vehicle registrations in Colorado were up 18.2% during the first nine months of this year, versus last year, an increase almost identical to the increase in the new vehicle market. Late-model used vehicles are defined as those models that are seven years old or newer.

The Colorado Auto Outlook was prepared for CADA by Auto Outlook, Inc., an independent automotive market research firm in Exton, PA. All data represent new retail registrations in Colorado and excludes fleet transactions.

Note: Registration numbers versus sales numbers run about two months behind, compared to actual sales. Year-to-date figures typically reflect market results. Monthly registration figures can fluctuate, resulting in over or under estimation of actual results, due to processing delays by governmental agencies.

For more information, email Tim Jackson

or call:

C: 303-667-3995

D: 303.282.1448

This just in: Title Processing after COVID webinar is now available through CADA's Education on Demand. The August 9 webinar includes downloads of specific forms and the statewide Title manual. If you missed this or any CADA webinar, stream them through CADA's Education on Demand.

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For information about any Endorsed Provider's products or services, contact Marsha Temple
303.457.5123 office | 303.589.3801 mobile

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National Estate Planning Awareness Week

October 18–24, 2021, is National Estate Planning Awareness Week. The purpose of this annual event is to help educate the public about what estate planning is and why it is so important to their financial wellbeing, and to the wellbeing of their families after a family member’s passing.

Only 33 percent of U.S. adults have estate planning documents, such as a will or living trust.¹ It is not uncommon to hear stories about celebrities or professional athletes who died without a will, leaving millions in assets to divide among heirs. There is often complexity created without documents outlining how a person’s assets should be divided. You may know neighbors, community members, or family members who died without a will or other planning documents, leaving the family in disarray. Without a blueprint of how assets are distributed, the deceased’s wishes may not be followed, and a court appointed executor may not be aware of the significance of a family heirloom or your intentions to potentially donate items.

Regardless of the size of your estate, planning tools can define more than who gets your money. There are multiple ways to create an estate plan, including:

Designate who will receive specific assets after your death, including business interests, pieces of real estate, family heirlooms, or other items with special meaning to your family.
Specify when assets will be received, which may be especially important to you if you have children who are minors or are otherwise not capable of managing sudden wealth.
Name the individuals who you would entrust to raise your children or handle their finances for them.
Authorize a trusted person to manage your financial matters if you become unable to do so yourself.
Appoint a health care agent to make medical decisions for you if you can’t make them yourself.
Help minimize taxes and settlement costs.

If you are a business owner, you have additional decisions to make. A properly drafted estate plan can also help to ensure your business transfers according to your wishes at your death, disability, or retirement. Whether you plan to gift your business to your children, sell your share to your business partners when you retire, or sell to a third‐party buyer or key employee, a plan crafted by your attorney with appropriate legal documentation is instrumental to helping plan for a smooth and effective transition.

Don’t jeopardize your family’s financial future or create unnecessary difficulties by not having an estate plan. If you already have a plan in place, make sure it is up-to-date and continues to reflect your wishes. Not sure where to start? An attorney who specializes in estate and business succession can help to advise on a wide range of planning options and help you develop a plan that fits your needs. Talk to your Federated Marketing Representative for a referral to a member of Federated’s network of independent attorneys.