The two best-selling cars in the U.S. in both the used and new markets were pickup trucks, according to a study conducted by car search engine iSeeCars, which looked at more than 12.9 million vehicle sales in 2020.
Ford’s F-150, whose manufacturer’s suggested retail price (MSRP) starts at $28,940, remained the top-selling car for the 40th year in a row due to its utility and wide range of customizable options. It represented 3.4% of sales in the used car market and 3.5% of sales in the new car market, leading those markets in 39 and 22 states, respectively, iSeeCars told Investopedia.
Meanwhile, Chevrolet’s Silverado 1500, which has an MSRP from $28,900, was second-place in both the used and new car markets, representing 2.3% and 2.8% of the sales, respectively.
“Used pickup truck sales remained strong and even grew in sales during the pandemic, while all other segments declined, as consumers needed them for work,” iSeeCars Executive Analyst Karl Brauer said in a statement.
After pickup trucks, the most popular car types among American buyers were compact SUVs like the Toyota RAV4 and Nissan Rogue, and sedans like the Honda Civic and Toyota Camry. Compact SUVs and sedans are popular among car buyers due to their versatility, reliability, and affordability.
U.S. spending on vehicles dropped dramatically after the pandemic hit the country in March, before recovering in May and surpassing the spending seen pre-pandemic. Shares in carmakers Honda, Toyota, Ford, and General Motors increased 40%, 41%, 115%, and 147%, respectively, since their March lows when the pandemic first hit the U.S.
Nonetheless, there was a decrease in spending for motor vehicles and parts (mainly new cars) in November, according to the Bureau of Economic Analysis.