People’s choices and preferences change rapidly. Just a decade ago, sedans were a popular choice. Now, SUVs appeal to buyers.
The overall trends say a lot about what the majority of drivers are asking for, and the manufacturers deliver accordingly. Whether it’s for commercial or personal use, the view from the front seat of the auto industry looks great!
To amp up a brand, many manufacturers and dealers have started to capitalize on modern technology like automotive marketing software. These tools help dealers market their services, hyping up the excitement surrounding their brand.
Manufacturers and dealers must match the changing market dynamics to survive and thrive in the automotive sector. Studying the trends and statistics below will help you adapt.
Top automotive industry statistics
These statistics discuss the automotive market’s value, units sold, and the impact on a country’s gross domestic product (GDP).
In 2023, the US car manufacturing market was worth $104.1 billion.
10.9 million light trucks and 2.9 million cars were sold in the US in 2022.
105 billion items related to motor vehicles and parts were exported in 2021 from the US These were the second largest in exports.
The Indian automotive sector contributed 7.1% to the overall GDP and 49% to the manufacturing GDP in 2021.
Oil use in cars, except for SUVs, fell by 10% in 2020. This drop, equal to 1.8 million barrels daily, was probably because of the COVID-19 pandemic.
Between 2014 and 2019, Kia cars cut down their CO2 emissions the most, getting 31 miles per gallon.
Global automotive industry statistics
What you see locally differs significantly from the big picture of the automotive world.. You may observe a shrinking market in your hometown , but that doesn’t mean opportunities to sell outside local boundaries don’t exist. These statistics reflect the automotive industry on a global scale.
With 9.2 million vehicles made in 2021, the US became the world's second-largest car producer.
China was the top car producer, crafting over 25 million in 2021.
57 million passenger cars were produced worldwide in 2022.
Around 67 million cars were sold in 2022 globally.
The revenue of the global automotive manufacturing industry in 2022 was 2.86 trillion.
US automotive industry statistics
If we explore the US market, there’s a lot to understand and use. The statistics below suggest how the US feels, earns, and benefits from the automotive industry.
The three significant US car makers are GM, Fiat Chrysler, and Ford. They face tough global competition from Toyota, Hyundai, and Honda. Take a moment with the stats below to see how the US shapes its automotive sector.
In 2021, 9.2 million vehicles were made in the US.
Vehicle production in the US grew by 4.5% from 2020 to 2021.
Cars and related industries contribute 3% to the US economy.
The US had 36.2 million used vehicles change hands in 2022.
Americans purchased around 13.75 million cars in 2022.
In 2020, nearly 91.5% of American homes had at least one vehicle.
The number of vehicles registered in the US reached 290.8 million in 2022.
77.6 million vehicles were made worldwide in 2020, with the US trailing only China in production numbers.
The US exported about 1.6 million cars and light vehicles in 2021.
Vehicle exports from the US grew by 14.3%. Canada was the top buyer of US cars in 2021.
Roughly 13.75 million
cars and light trucks were sold in the US in 2022.
The auto industry is the biggest job creator and exporter in the US It also leads in research and development investments.
Foreign investors pumped $114.6 billion into the US car industry in 2018.
In 2018, the US sent out 1.8 million new light vehicles and 131,200 bigger trucks abroad, valued at roughly $60 billion.
1.25% of all working Americans were in car sales in 2021. It's a big chunk when you consider how many jobs there are in the US.
1,251,600 people work at car shops as of November 2021. This number grew by 21,900 from the previous year.
Automotive industry job and pay statistics
The automotive industry does bring forth a variety of jobs. People work at car dealerships, some are involved in manufacturing spare parts or working along the assembly line. Here are some stats that throw light on the present state of jobs and pay in the automotive industry.
923,000 people in the US have jobs making motor vehicles and parts.
Another 1,251,600 Americans work at car dealerships.
People in the car industry work in making, selling, designing, and engineering.
In November 2021, 923,700 people had jobs making car parts in the US.
of the US working-age population will be employed in the automotive sector in 2023.
About 2 million people in the US sell cars for a living.
In 2022, people working at car shops made an average of $25.76 an hour. This pay rate increased by $0.35 an hour (1.4%) from 2021, when it was $25.41.
Automotive industry revenue and cost statistics
The ever-changing automotive market rolls out several opportunities. The faster you get hold of these opportunities, the better because they help you attract more revenue. The stats below showcase the spending trends in the automotive sector.
US car and parts dealers made $1.53 trillion in revenue in 2021.
Americans shell out $698 billion every year on car loans and insurance.
The US Treasury set aside $82 billion to help the car industry in 2020. This was the second-largest bailout, with banks taking the top spot at $250 billion.
New cars were 2.5% more expensive in 2020 than the year before. Over the last 20 years, new car prices have risen from $21,850 to nearly $40,000, a big jump of 56% since 2000.
Used car prices went up by 17% between 2020 and 2021.
A used car's average price was $23,371 in 2020, but by April 2021, it went up to $27,297. That's a leap of almost $4,000 in just one year.
The price change for used cars from 2019 to 2020 was tiny, going down only by 0.2%.
The US automotive industry has a 4.9 share of the country's gross domestic product (GDP). It adds 6 million jobs.
The gray side of the automotive sector
While the automotive industry caters to people’s excitement for luxury, it adds to environmental pollution and risks of accidental death too.
Vehicles release toxic emissions that harm our ecosystem. As they build their products, car companies need to comply with several regulations to minimize environmental impact. The deaths caused due to road accidents are also on the rise.
Explore the stats below to understand why the automotive industry requires better control over emissions and other adverse impacts.
Because of fewer cars on the road during the COVID-19 pandemic, the US saw a 13% drop in emissions in 2020. But after lockdowns ended, emissions started going back up.
Even though we were on the road 13.2% less in 2020, car accident deaths increased 7.2% from 2019. The National Highway Traffic Safety Administration says about 38,680 people died in car accidents in 2020.
of the US's greenhouse gas emissions come from transportation.
The automotive industry offers several opportunities for players in the market. However, it adds to undeniable environmental concerns and risks of accidents. Manufacturers and consumers need to maintain a balance between the great and the grey side of the automotive sector to achieve sustainability.
Modern companies are making strides toward reducing environmental impact through electric vehicles. However, unless the electricity comes from renewable sources, it doesn’t fully solve the environmental emission impact.
Sagar Joshi is a former content marketing specialist at G2 in India. He is an engineer with a keen interest in data analytics and cybersecurity. He writes about topics related to them. You can find him reading books, learning a new language, or playing pool in his free time.
Find the right automotive marketing software for promoting vehicles and services, while also growing the customer base.
51 Automotive Industry Statistics to Highlight Latest TrendsExplore these automotive marketing statistics to understand the automotive sector and discover where you can adapt. Learn more about the gray areas. https://learn.g2.com/automotive-industry-statisticshttps://learn.g2.com/hubfs/G2CM_FI780_Learn_Article_Images-%5Bautomotive_marketing_statistics%5D_V1b.png2023-11-20 16:35:11Z
Sagar JoshiSagar Joshi is a former content marketing specialist at G2 in India. He is an engineer with a keen interest in data analytics and cybersecurity. He writes about topics related to them. You can find him reading books, learning a new language, or playing pool in his free time.https://learn.g2.com/author/sagar-joshihttps://learn.g2.com/hubfs/Sagar%20JoshiUpdated.jpeghttps://www.linkedin.com/in/sagarjoshi9/
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