Recently released statistics from the Colorado Automobile Dealers Association (CADA) reveal that more Americans in some regions may be opting to buy used cars over new ones.

In its 2009 Economic Impact Report, CADA revealed that the state registered only 104,540 new cars and light trucks in 2009, the Denver Business Journal reports. This figure is almost half of the annual rate 10 years ago – the state recorded about 208,000 new car registrations in 2000,

“The industry, and indeed the entire state and U.S. economy, declined to depths not seen in modern history” last year, Tim Jackson, CADA’s president, said in a statement.

Despite the recession, which peaked only in the last several years, Jackson mentioned that the decline in new vehicle registrations has been most significant over the last four years.

According to the report, new car dealerships made $410 million in state and local tax revenue in 2009, while sales on new cars in Colorado totaled $9.62 billion, or an average of $34.2 million per dealership.

In light of the recession, drivers may be compelled to purchase new cars to save extra money.