You must be interested in cars, right? I mean, who isn’t? Cars are awesome! They take us places, they make us feel good, they express our personality. But do you know how many cars are sold annually in the US? It’s difficult to answer because many things influence car sales, like what people want, how much gas costs, how well the factories work, and what new features are available.
Are you ready to review some of the coolest facts and figures about car sales in the US based on data from reliable sources like Statista, FRED, and MarkLines Data Center? You’ll learn about the most popular types of cars and brands in the US market and what makes them so appealing. y
So fasten your seatbelts to discover some of the challenges and opportunities the car industry faces regarding electric cars, fuel efficiency, and innovation.
And here the ride begins!
Do you know the car right?
So you think you know what a car is, right? Well, maybe not exactly.
Because we will talk about cars in a specific way. We will use the word car to mean passenger cars, which are those light vehicles that are not light trucks. Light trucks include pickup trucks, utility vehicles, vans, and minivans. They are different from light vehicles because they have a higher gross vehicle weight rating (GVWR), which is how much the vehicle can weigh when it’s fully loaded.
But wait, there’s more. When we look at the total vehicle sales in the U.S., we have to include light vehicles, light trucks, and heavy trucks. Heavy trucks are those big guys with a GVWR of over 8,500 pounds. They include medium-duty trucks, heavy-duty trucks, buses, and motor homes. So, when we talk about cars in this article, we’re really talking about a subset of light vehicles that are not light trucks or heavy trucks. Got it? Good. Let’s get started.
How Many Cars Are Sold in the US Each Year?
These stats below will definitely surprise you.
1. What Statista has to say?
According to Statista, the U.S. auto industry sold nearly 2.86 million cars in 2022. In 2022, Total car and light truck sales in the United States were around 13.75 million. U.S. vehicle sales peaked in 2016 at roughly 17.5 million units.
The COVID-19 pandemic deeply impacted the U.S. automotive market, accelerating the global automotive semiconductor shortage and leading to a drop in demand during the first months of 2020. Hence it reflected that the demand impacts the supply to keep up with the market. U.S. inventory-to-sales ratio dropped to its lowest point in February 2022, as Russia’s conflict with Ukraine led to gasoline price hikes. During that same period, inflation also impacted new and used car prices, pricing many U.S. consumers out of a market with increasingly lower car stocks. A rollercoaster, right?
2. What does FRED say about it?
According to FRED, total vehicle sales in September 2022 were 16.18 million units (seasonally adjusted annual rate), which was slightly higher than August 2022 (15.89 million units) but lower than July 2022 (16.44 million units).
3. Let’s hear from MarkLines Data Center!
According to MarkLines Data Center, passenger car sales in September 2022 were 3.07 million units (seasonally adjusted annual rate), which was higher than August 2022 (2.87 million units) but lower than July 2022 (3.17 million units).
What Are the Most Popular Vehicle Models and Brands in the US?
Well, some of the models and brands had the highest sales because of their size, design, and make. Beautiful cars intrigue everyone, don’t they?
#1 Best-Selling
According to Statista, the best-selling vehicle model in the US in 2020 was Ford’s signature F-Series light truck, which sold over 787 thousand units.
#2 Best-Selling
The second-best-selling model was the Ram Pickup from Fiat Chrysler Automobiles (FCA), which sold over 563 thousand units.
#3 Best-Seling
The third-best-selling model was the General Motors (GM) Chevrolet Silverado, which sold over 586 thousand units.
Best-Selling Passenger Cars
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#1 Best-Selling
The best-selling passenger car model in the US in 2020 was the Toyota Camry from Toyota Motor Corporation (TMC), which sold over 294 thousand units.
#2 Best-Selling
The second-best-selling passenger car model was the Honda Civic from Honda Motor Co., Ltd., which sold over 261 thousand units.
#3 Best-Seling
The third-best-selling passenger car model was the Toyota Corolla from TMC, which sold over 237 thousand units.
Statista POV
According to Statista, the best-selling car brand in the US in 2020 was Ford from Ford Motor Company (FMC), which sold over 1.9 million units.
The second-best-selling car brand was Toyota from TMC, which sold over 1.8 million units.
The third-best-selling car brand was Chevrolet from GM, which sold over 1.5 million units.
What Are Some of the Challenges and Opportunities Facing the Auto Industry?
One of the major challenges facing the auto industry is the transition to electric vehicles (EVs), which are vehicles that use one or more electric motors for propulsion. EVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs).
Is EV potentially a replacement for other cars?
According to Statista, EV sales in the US in 2020 were over 328 thousand units, which accounted for about 2 percent of total light vehicle sales.
#1 Best-Selling
The best-selling EV model in the US in 2020 was the Tesla Model 3 from Tesla, Inc., which sold over 205 thousand units.
#2 Best-Selling
The second-best-selling EV model was Chevrolet Bolt from GM, which sold over 20 20,000 units.
#3 Best-Seling
The third-best-selling EV model was the Tesla Model Y from Tesla, Inc., which sold over 19 thousand units.
So, what does this mean?
The EV market is expected to grow rapidly in the coming years as more consumers become aware of EVs’ environmental and economic benefits, such as lower emissions, fuel costs, and maintenance costs. According to Statista, EV sales in the US are projected to reach over 1.1 million units by 2025, accounting for about 6 percent of total light vehicle sales.
Are there any challenges for EVs?
However, the EV market also faces some barriers, such as high upfront costs, limited battery range, lack of charging infrastructure, and consumer preferences. According to Statista, the average sales price of a new EV in the US in 2020 was over $55 thousand, which was much higher than the average sales price of a new light vehicle ($37.9 thousand). Moreover, according to Statista, the average battery range of a new EV in the US in 2020 was about 250 miles, lower than a U.S. household’s average annual driving distance (11.5 thousand miles).
Another challenge facing the auto industry is the improvement of fuel efficiency, which is the ratio of distance traveled per unit of fuel consumed. Fuel efficiency is influenced by vehicle design, technology, driving behavior, and fuel price. According to Statista, the average fuel efficiency of new light vehicles in the US in 2020 was about 25.7 miles per gallon (mpg), which was slightly higher than the previous year (25.5 mpg).
The auto industry constantly develops new technologies and innovations to enhance fuel efficiency, such as hybrid systems, turbochargers, direct injection, variable valve timing, cylinder deactivation, start-stop systems, and lightweight materials. According to Statista, the average fuel efficiency of new light vehicles in the US will reach over 28 mpg by 2025.
Conclusion
How do you feel about what you have read? Isn’t it surprising?
Besides the fact that there are many types of cars, some of them surprisingly hit the benchmark in auto sales. A wide range of commercial and passenger vehicles may intrigue you. Is there any that you liked and has got great sales?
These stats also help auto manufacturers to know consumer demands. What are you waiting for? Buy your favorite car today!
