LEXINGTON, Ky. (WTVQ) – From economists to armchair pundits, just about everyone looks for daily signs of how the economy is recovering from the shutdowns forced by the coronavirus outbreak.
Just as importantly, everyone looks for hints at what is to come.
The latest evidence comes in a new analysis by Iseecars.com, a car search engine that helps shoppers find car deals.
While COVID-19 led to a steep decline in used car sales beginning in mid-March, sales showed signs of recovery in May as businesses began to be able to re-open to in-person business.
According to iSeeCars.com’s latest study, national used car sales in May 2020 grew 105.5% over April 2020. In Lexington , did even better, up 110.6 percent from April and surprisingly, were down just 7.1 percent from ‘normal’ sales in May 2019.
Compared to the rest of the nation, Kentucky ranked 22nd with sales up 113.9 percent from April to May although they still lagged behind May 2019 by 7.6 percent.
And the state fared better than many of its neighbors. Only Missouri, Indian and West Virginia ranked higher while Illinois, Ohio and Tennessee were below. And even with those numbers, sales from April to May were better in Kentucky than some of the others.
And according to the eerly trends, June sales are expected to continue the upward climb as pent-up demand continues to send consumers looking for both new and used cars.
|May 2020 Car Sales in Lexington|
|Metro Area||% Change from Last Year||% Change from Previous Month|
Here are the vehicles that have seen the greatest growth:
|Sales Growth in May 2020, Top Models – iSeeCars Study|
|Rank||Model||% Change from Last Year||% Change from Previous Month|
|6||Nissan Rogue Sport||14.8%||44.8%|
|10||Jeep Grand Cherokee||11.8%||67.0%|