Source: Statista, Hedges Company
Source: Statista, Hedges Company
According to the Hedges Company, there are 284.5 million registered cars in the US in 2019. That’s 1.93% more than 2018’s 279.1 million units. The same study also suggests that by the end of 2020, 287.3 million vehicles would be roaming the roads of America.
The US automotive industry has experienced its fair share of ups and downs. This is due to factors such as oil and energy crisis, improvement of fuel economy, fluctuation of gas price, and innovative upgrades. Some factors have a larger impact than others. For instance, the Cash for Clunkers was deemed as one of the biggest causes of the big sales gap between 2009 and 2010.
The article provides a peek into the state of the automotive industry in the US through sales, distribution, and market shares.
California Texas Florida Illinois Ohio New York Pennsylvania Georgia North Carolina Michigan Source: Statista, 2017
Top 10 States with the most Number of Registered Cars
Texas : 8,176,879
Florida : 7,778,493
Illinois : 4,655,844
Ohio : 4,605,459
New York: 4,563,035
Pennsylvania : 4,463,267
Georgia : 3,536,055
North Carolina: 3,317,918
Michigan : 3,257,473
Source: Statista, 2017Designed by
A survey by US Dept. of Transportation and Federal Highway Administration released in 2019 revealed that California is by far the state with the most number of registered vehicles in the US. Coming from the most populous US federal state, this number isn’t surprising. Interestingly, only 245,468 of these California-based vehicles are publicly owned. That leaves 98.34% of these automobiles being either used for private or commercial purposes.
On the other hand, Alaska is on the lowest end of the spectrum when it comes to cars population; with a mere 173,487 registered vehicles. However, as with California, Alaska has the same distribution rate of 2% to 98% of publicly owned automobiles to privately/commercially owned ones, respectively.
Ford F-Series Chevrolet Silverado Dodge Ram Toyota Rav4 Nissan Rogue/Rogue Sport Honda CR-V Toyota Camry Chevrolet Equinox Honda Civic Toyota Corolla Source: Fox News, 2018
10 Best-selling Vehicles in the US
Ford F-Series: 909,330
Chevrolet Silverado: 585,581
Dodge Ram: 536,980
Toyota Rav4: 427,170
Nissan Rogue/Rogue Sport: 412,110
Honda CR-V: 397,013
Toyota Camry: 343,439
Chevrolet Equinox : 332,618
Honda Civic: 325,760
Toyota Corolla: 303,732
Nissan Rogue/Rogue Sport412,110
Source: Fox News, 2018Designed by
For the past 42 years, Ford F-Series has been the best-selling vehicle in the US. Meanwhile, in the 4th place is Toyota Rav4, which has earned the title of the best-selling vehicle in the US that’s not a pickup truck. It’s also been a good year for Honda CR-V as they were able to sell every functioning unit they have. On the contrary, Camry’s luck seems down for 2019 as sales dropped by 11.3%.
Light-duty vehicles are known for their improved fuel economy as well as great range of utility. This makes them the go-to automobile for savvy consumers. In fact, the chart prior shows how popular this type of vehicle is, with Ford F-Series ranking number one in market sales in the US; the most sought variant being the F-150.
Ford F-Series Ram Pickup Chevrolet Silverado Toyota Tacoma GMC Sierra Source: Statista
Top 5 Best Selling Light Trucks in the US in 2019
Ford F-Series: 896,526
Ram Pickup: 633,694
Chevrolet Silverado: 575,569
Toyota Tacoma: 248,801
GMC Sierra : 232,325
Source: StatistaDesigned by
Moreover, light trucks that are manufactured by US-based automakers are continually being favored by vehicle buyers in America. That is, with the exception of Toyota pickups.
The automotive sector won’t be considering 2019 as its best year so far as major players in the industry have experienced negative YoY growth. Take passenger car sales, for instance, which had only sold 394,178 units last year. That’s 12.5% less than 2018’s sale.
While having fewer selling days is definitely a factor contributing to the downturn, some figures are just too big for this to be the only reason, especially since the economic elements including consumer confidence and stock market remain positive in general.
Some experts suggest that finance-wise, shoppers are finding it hard to keep up with the increasing costs and interest rates of vehicles. With that said, however, the total of 17.05 million sales, although down by 1.3% from the previous year, is still a good number.
In 2016, 17.5 million automobiles were sold in the United States. About 65% of them were produced in the US. This makes the automotive industry one of the major driving forces in the US economy. In 2019, as per usual, the Detroit Big Three automakers, namely General Motors, Ford, and Chrysler are still in the overall leading car manufacturers in the US.
As previously mentioned, light-vehicles are the most popular type of automobile among the US consumers. While Ford F-Series is the best-selling car in the US for decades now, in 2019, pickup trucks in general are only second in terms of market share. Crossover types such as Toyota RAV4 have dominated the field for the said year.
The United States, next to China, is the world’s second largest automobile market in terms of new light vehicle registrations. It has around 17.55 million light vehicles registered. The biggest player in the US automotive industry, General Motors, was able to net over $132 billion in 2018. Less than 15% of that revenue came from the international market while the major cut came from North America.
With that said, however, General Motors isn’t the go-to automaker of US consumers when it comes to imported cars. In March 2018, Toyota was able to sell 18,000 imported cars in the US on top of the 48,000 imported light trucks. At the same time, BMW was the leading US auto exporter by value. Also at that time, its manufacturing plant in South Carolina had one of the highest BMW output volumes in the world.
Toyota Motor Sales USA Inc. BMW of North America Inc. American Honda Motor Co Inc. Nissan North America Inc. Volkswagen of America Inc. Mitsubishi Motors N A, Inc. Subaru of America Inc. General Motors Corp. Source: Statista
Sales of Imported Cars in the United States in March 2018
Toyota Motor Sales USA Inc.: 18,111 units
BMW of North America Inc.: 15,984 units
American Honda Motor Co Inc.: 8,898 units
Nissan North America Inc.: 7,531 units
Volkswagen of America Inc.: 6,336 units
Mitsubishi Motors N A, Inc.: 3,897 units
Subaru of America Inc.: 3,399 units
General Motors Corp.: 434 units
Toyota Motor Sales USA Inc.18,111 units
BMW of North America Inc.15,984 units
American Honda Motor Co Inc.8,898 units
Nissan North America Inc.7,531 units
Volkswagen of America Inc.6,336 units
Mitsubishi Motors N A, Inc.3,897 units
Subaru of America Inc.3,399 units
General Motors Corp.434 units
Source: StatistaDesigned by
As of October 2018, there has been over a million EVs (Electric Vehicles) on the US road. Since then, the transition to this type of futuristic vehicle has been well underway. In fact, Edison Electric Institute projects that EV stock will reach 18.7 million by 2030.
Automakers have been developing more EV models to satisfy consumer demands. The most prominent ones include BEV (Battery Electric Vehicle) and PHEV (Plug-in Hybrid Electric Vehicle). There have been a few dozen models and brands circulating the market. However, when it comes to EV sales in the US, Tesla is still the most popular, making up 78% of the entire market share.
Tesla Model 3 Tesla Model X Chevy Bolt Tesla Model S Nissan LEAF Audi e-tron Volkswagen e-Golf BMW i3 Others Sources: Automakers, CleanTechnica, EV Volumes
US Electric Vehicle Sales from January - December 2019
Tesla Model 3: 154,836 units
Tesla Model X: 18,500 units
Chevy Bolt: 16,418 units
Tesla Model S: 13,300 units
Nissan LEAF: 12,365 units
Audi e-tron: 5,369 units
Volkswagen e-Golf: 4,863 units
BMW i3: 4,854 units
Others: 14,208 units
Tesla Model 3154,836 units
Tesla Model X18,500 units
Chevy Bolt16,418 units
Tesla Model S13,300 units
Nissan LEAF12,365 units
Audi e-tron5,369 units
Volkswagen e-Golf4,863 units
BMW i34,854 units
Sources: Automakers, CleanTechnica, EV VolumesDesigned by
With the expected boom of the Electric Vehicles market, various measures need to be set up. For instance, in order to support the 18.7 million EV estimate in 2030, automakers must install about 9.6 million charge ports at workplaces, homes,and public places. This is a major investment in terms of EV charging infrastructure.
The available technology at hand is a big factor in the automotive industry’s advancement. It may affect the vehicle design, manufacturing, distribution, and other innovation of the automobile sector. This means that in order to monitor and forecast the changes in the industry, one must keep up with the technology trends that emerge.
This is especially true to modern approaches when it comes to vehicle design. For instance, the wide proliferation of Internet of Things (IoT) connected devices will help in the development of autonomous vehicles. Moreover, Gartner estimates that 5G services will be integrated to 15% of the connected cars in the market. This number will leap to 74% in just three years.
Robot adoption of a more advanced degree has the potential to heavily streamline the manufacturing process as well. Not only that, but artificial intelligence has been making life easier for both consumers and manufacturers alike. With capabilities such as driver assist, automated guided vehicles, infotainment control and more, it’s no wonder that automotive AI market share is projected to reach $10.73 billion by 2024.
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