People’s choices and preferences change rapidly. Just a decade ago, sedans were a popular choice. Now, SUVs are attracting buyers.
The overall trend speaks volumes about what most drivers want, and manufacturers are delivering accordingly. Whether for business or personal use, the view from the front seat of the automotive industry looks great!
In order to expand their brands, many manufacturers and dealers have started to utilize modern technologies such as car marketing software. These tools help resellers market their services and build excitement about their brand.
Manufacturers and dealers must adapt to changing market dynamics to survive and thrive in the automotive industry. Studying the trends and statistics below will help you adapt.
Top Auto Industry Statistics
These statistics discuss the value of the automotive market, sales volume, and the impact on a country’s Gross Domestic Product (GDP).
- In 2023, the U.S. auto manufacturing market will be worth $104.1 billion.
- In 2022, 10.9 million light trucks and 2.9 million cars were sold in the United States.
- In 2021, the United States exported 105 billion items related to motor vehicles and parts, making it the second largest export item.
- In 2021, the Indian automobile industry contributed 7.1% to total GDP and 49% to manufacturing GDP.
- In 2020, fuel consumption by vehicles other than SUVs fell by 10%. This decline, equivalent to 1.8 million barrels per day, is likely due to the COVID-19 pandemic.
- Kia cars achieved the largest reduction in CO2 emissions between 2014 and 2019, achieving 31 miles per gallon.
Global Automotive Industry Statistics
What you see locally is very different from the automotive world as a whole. You may find that the market in your hometown is shrinking, but that doesn’t mean there aren’t opportunities to sell outside your local borders. These statistics reflect the automotive industry on a global scale.
- In 2021, the United States produced 9.2 million vehicles, becoming the world’s second-largest automobile producer.
- China is the largest automobile producer, with output in 2021 exceeding 25 million vehicles.
1.4 billion
Vehicle registered in 2022.
Source: PD Insurance
- In 2022, global passenger car production will be 57 million units.
- Global car sales in 2022 will be approximately 67 million units.
- Global automobile manufacturing revenue in 2022 will be US$2.86 trillion.
U.S. Auto Industry Statistics
If we explore the US market, there is a lot to understand and take advantage of. The following statistics show America’s sentiment, revenue, and interest in the automobile industry.
The three largest U.S. automakers are General Motors, Fiat Chrysler, and Ford. They face stiff global competition from Toyota, Hyundai and Honda. Take a moment to look at the statistics below to see how America has shaped its automotive industry.
- In 2021, 9.2 million vehicles were produced in the United States.
- U.S. automobile production will grow by 4.5% from 2020 to 2021.
- The automobile and related industries contribute 3% to the US economy.
- In 2022, 36.2 million used cars changed hands in the United States.
- Americans purchased approximately 13.75 million vehicles in 2022.
- In 2020, nearly 91.5% of American households owned at least one car.
- In 2022, the number of registered cars in the United States will reach 290.8 million.
- Global automobile production in 2020 was 77.6 million units, of which the United States was second only to China.
- The United States exported approximately 1.6 million cars and light vehicles in 2021.
- U.S. auto exports grew 14.3%. Canada was the largest buyer of U.S. cars in 2021.
About 13.75 million
2022 Cars and Light Trucks for Sale in the United States.
Source: Statista
- The auto industry is the largest job creator and exporter in the United States and a leader in investment in research and development.
- In 2018, foreign investors poured $114.6 billion into the U.S. auto industry.
- In 2018, the United States exported 1.8 million new light vehicles and 131,200 large trucks worth approximately $60 billion overseas.
- In 2021, 1.25% of Americans were employed in car sales. That’s a huge number considering how many jobs there are in the United States.
- As of November 2021, the number of auto shop workers was 1,251,600. This number is an increase of 21,900 from the previous year.
Automotive Industry Employment and Salary Statistics
The automotive industry does bring a variety of employment opportunities. People work in car dealerships, some are involved in making spare parts or work on assembly lines. Here are some statistics to help you understand the current state of employment and salaries in the automotive industry.
- 923,000 people in the United States are employed in manufacturing automobiles and their parts.
- Another 1,251,600 Americans work in car dealerships.
- People in the automotive industry work in manufacturing, sales, design, and engineering.
- In November 2021, 923,700 people were employed in the United States manufacturing auto parts.
2%
By 2023, the U.S. working-age population will be employed in the automotive industry.
Source: American Facts
- About 2 million people in the United States make a living selling cars.
- In 2022, auto shop workers earned an average of $25.76 per hour. This wage rate is an increase of $0.35 (1.4%) from the 2021 rate of $25.41 per hour.
Automotive Industry Revenue and Cost Statistics
The changing automotive market brings many opportunities. The sooner you seize these opportunities, the better, as they can help you attract more revenue. The following statistics show spending trends in the automotive industry.
- In 2021, U.S. auto and parts dealer revenue was $1.53 trillion.
- Americans spend $698 billion each year on auto loans and insurance.
- The U.S. Treasury Department allocated $82 billion in 2020 to help the auto industry. It is the second-largest bailout package, with banks at the top of the list with $250 billion.
- New car prices increased by 2.5% in 2020 compared with the previous year. Over the past 20 years, new car prices have risen from $21,850 to nearly $40,000, a whopping 56% increase since 2000.
- Between 2020 and 2021, used car prices increased by 17%.
- In 2020, the average price of a used car was $23,371, but by April 2021, the price had risen to $27,297. That’s an increase of nearly $4,000 in just one year.
- Used car prices changed very little from 2019 to 2020, falling by only 0.2%.
- The U.S. automotive industry accounts for 4.9% of the country’s gross domestic product (GDP). It added 6 million jobs.
The gray side of the automotive industry
While the automobile industry satisfies people’s pursuit of luxury goods, it also increases the risk of environmental pollution and accidental death.
Vehicles release toxic gases that harm our ecosystem. Automotive companies need to comply with numerous regulations when producing their products to minimize their impact on the environment. Deaths from traffic accidents are also on the rise.
Explore the statistics below and learn why the automotive industry needs to better control emissions and other adverse impacts.
- U.S. emissions fell 13% in 2020 as fewer cars were on the road during the COVID-19 pandemic. But after the lockdown ended, emissions began to pick up.
- Although there was a 13.2% reduction in traffic on our roads in 2020, the number of crash fatalities increased by 7.2% compared to 2019. The National Highway Traffic Safety Administration says approximately 38,680 people died in crashes in 2020.
- In 2019, 58% of emissions from transportation came from ordinary cars and small vehicles.
- Although global energy emissions fell by 7% in 2020, SUV emissions increased by 0.5%. SUVs also consume up to 5.5 million barrels of oil per day.
maintain a sustainable balance
The automotive industry offers multiple opportunities to market players. However, it increases undeniable environmental concerns and accident risks. Manufacturers and consumers need to maintain a balance between the bright and gray sides of the automotive industry to achieve sustainable development.
Hyundai is making great strides in reducing its environmental impact through electric vehicles. However, environmental emissions impacts are not fully addressed unless the electricity comes from renewable sources.
Learn more about Sustainable development management And use software to effectively maintain sustainable operations.
