Worldwide car sales grew to around ** million automobiles in 2024, up from around **** million units in 2023. Throughout 2020 and 2021, the sector experienced a downward trend on the back of a slowing global economy, while COVID-19 and the Russian war on Ukraine contributed to shortages in the automotive semiconductor industry and further supply chain disruptions in 2022. Despite these challenges, 2023 and 2024 sales surpassed pre-pandemic levels and are forecast to keep rising through 2025. Covid-19 hits car demand It had been estimated pre-pandemic that international car sales were on track to reach ** million. While 2023 sales are still far away from that goal, this was the first year were car sales exceeded pre-pandemic values. The automotive market faced various challenges in 2023, including supply shortages, automotive layoffs, and strikes in North America. However, despite these hurdles, the North American market was among the fastest-growing regions in 2024, along with Eastern Europe and Asia, as auto sales in these regions increased year-on-year. Chinese market recovers After years of double-digit growth, China's economy began to lose steam in 2022, and recovery has been slow through 2023. China was the largest automobile market based on sales with around **** million units in 2023. However, monthly car sales in China were in free-fall in April 2022 partly due to shortages, fears over a looming recession, and the country grappling with the COVID-19 pandemic. By June of that same year, monthly sales in China were closer to those recorded in 2021.

United States Motor Vehicle Sales: Average Price: Used Vehicle data was reported at 8,786.000 USD in 2010. This records an increase from the previous number of 8,483.000 USD for 2009. United States Motor Vehicle Sales: Average Price: Used Vehicle data is updated yearly, averaging 8,130.000 USD from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 8,786.000 USD in 2010 and a record low of 5,857.000 USD in 1990. United States Motor Vehicle Sales: Average Price: Used Vehicle data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA004: Motor Vehicle Sales: Average Price.

Sales of used light vehicles in the United States came to around **** million units in 2024. In the same period, approximately **** million new light trucks and automobiles were sold here. Declining availability of vehicles In the fourth quarter of 2024, about ***** million vehicles were in operation in the United States, an increase of around *** percent year-over-year. The rising demand for vehicles paired with an overall price inflation lead to a rise in new vehicle prices. In contrast, used vehicle prices slightly decreased. E-commerce: a solution for the bumpy road ahead? Financial reports have revealed how the outbreak of the coronavirus pandemic has triggered a shift in vehicle-buying behavior. With many consumer goods and services now bought online due to COVID-19, the automobile industry has also started to digitally integrate its services online to reach consumers with a preference for contactless test driving amid the global crisis. Several dealers and automobile companies had already begun to tap into online car sales before the pandemic, some of them being Carvana and Tesla.

United States Motor Vehicle Sales: Average Price data was reported at 13,105.000 USD in 2010. This records an increase from the previous number of 12,518.000 USD for 2009. United States Motor Vehicle Sales: Average Price data is updated yearly, averaging 12,098.000 USD from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 13,451.000 USD in 2007 and a record low of 8,691.000 USD in 1990. United States Motor Vehicle Sales: Average Price data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA004: Motor Vehicle Sales: Average Price.

United States Motor Vehicle Sales & Leases: New Vehicle: Sales: Passenger Cars data was reported at 5,980.000 Unit th in 2010. This records an increase from the previous number of 5,850.000 Unit th for 2009. United States Motor Vehicle Sales & Leases: New Vehicle: Sales: Passenger Cars data is updated yearly, averaging 8,200.000 Unit th from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 9,300.000 Unit th in 1990 and a record low of 5,850.000 Unit th in 2009. United States Motor Vehicle Sales & Leases: New Vehicle: Sales: Passenger Cars data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA005: Motor Vehicle Sales & Leases: Quantity.

Electric vehicles amounted to around 16.7 percent of global passenger car sales in 2023, which was a rise of around 3.1 percentage points year-over-year. Electric vehicle sales have rapidly increased since 2017, when they rose above one percent of the market, and have particularly accelerated since 2020. Many consumers started looking for more sustainable transportation methods amid the COVID-19 pandemic due to increased environmental consciousness. This contributed to the EV market expansion worldwide. A market driven by innovation Various factors contribute to the rapid growth of the electric vehicle market, including consumer perception, governmental targets, and investments in technological innovation. Regional institutions and national governments are committing to policies supporting electric vehicle adoption worldwide, with around 97 percent of the light-duty vehicle market comprising countries with these policies. Governmental spending on electric cars reached around 45 billion current U.S. dollars in 2022, the steepest increase recorded in the past five years, and global automakers are also allocating part of their revenue toward research and development expenses. Challenges and opportunities for EV charging Electric vehicle charging was the second technology type receiving the most early and growth-stage venture capital investments in 2023, above electric vars and electric two-wheelers. In 2023, there were around 11 electric vehicles per charging point worldwide, and access to this infrastructure was unequal, with China boasting the largest electric vehicle supply equipment network. Slow chargers, typically alternating current, were also the most common charging type, creating opportunities for the development of fast charging across the globe.

United States Motor Vehicle Sales & Leases: Used Vehicle: Sales data was reported at 36,883.987 Unit th in 2010. This records an increase from the previous number of 35,491.762 Unit th for 2009. United States Motor Vehicle Sales & Leases: Used Vehicle: Sales data is updated yearly, averaging 40,841.228 Unit th from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 44,138.263 Unit th in 2005 and a record low of 35,491.762 Unit th in 2009. United States Motor Vehicle Sales & Leases: Used Vehicle: Sales data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s USA – Table US.RA005: Motor Vehicle Sales & Leases: Quantity.

Electric vehicles (EVs) have undergone significant transformations from early innovations in the 19th century to remarkable advancements in the 21st century. Initially popular in the early 1900s, EVs lost market share to gasoline-powered cars but saw renewed interest during the 1970s oil crisis. Today, they represent a growing segment of the automotive industry, driven by technological advancements, environmental concerns, and market dynamics.

Early electric vehicles, such as those built by Robert Anderson in the 1830s, were powered by non-rechargeable batteries. By the early 1900s, electric vehicles like those from the Detroit Electric Car Company held a significant market share, favored for their quiet operation and ease of use. However, the rise of affordable gasoline cars, facilitated by innovations like the electric starter and Henry Ford's mass production techniques, led to a decline in EV popularity.

The 1970s oil crisis renewed interest in alternative energy vehicles, leading to experimental models like the Sinclair C5 and General Motors EV1. The Sinclair C5, launched in 1985, was a small electric vehicle intended for urban commuting but failed commercially due to its limited speed and range. The GM EV1, produced in the late 1990s, was praised for its technology but discontinued due to high costs and limited infrastructure.

The 21st century marked a resurgence for EVs, with advancements in battery technology and increasing environmental awareness. Companies like Tesla played a pivotal role in popularizing EVs, and major automotive manufacturers followed suit, leading to a diverse range of electric vehicles on the market today.

There are three main types of electric vehicle powertrains:

Battery Electric Vehicles (BEVs): Fully electric vehicles powered by batteries, offering a range of 100 to 400+ miles on a single charge. BEVs are environmentally friendly with zero tailpipe emissions and require less maintenance due to fewer moving parts. Examples include the Tesla Model 3 and Nissan Leaf.

Fuel Cell Electric Vehicles (FCEVs): Vehicles that use hydrogen fuel cells to generate electricity, emitting only water vapor. FCEVs have fast refueling times and long ranges (300-400+ miles), but they face challenges with hydrogen infrastructure and production costs. Examples include the Toyota Mirai and Hyundai Nexo.

Plug-in Hybrid Electric Vehicles (PHEVs): Vehicles that combine an electric motor with a traditional internal combustion engine. PHEVs can operate in electric-only mode for short trips and switch to hybrid mode for longer distances. They offer flexibility and reduced emissions but still rely on fossil fuels. Examples include the Toyota Prius Prime and Mitsubishi Outlander PHEV.

The future of electric mobility is promising, with continued advancements expected to drive sustainability and innovation in the transportation sector. The growing adoption of EVs, supported by improvements in battery technology, charging infrastructure, and governmental incentives, highlights their potential to reshape the automotive landscape.

The U.S. auto industry sold nearly ************* cars in 2024. That year, total car and light truck sales were approximately ************ in the United States. U.S. vehicle sales peaked in 2016 at roughly ************ units. Pandemic impact 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. However, as demand rebounded, new vehicle supply could not keep up with the market. U.S. inventory-to-sales ratio dropped to its lowest point in February 2022, as Russia's war on Ukraine lead 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. Focus on fuel economy The U.S. auto industry had one of its worst years in 1982 when customers were beginning to feel the effects of the 1973 oil crisis and the energy crisis of 1979. Since light trucks would often be considered less fuel-efficient, cars accounted for about ** percent of light vehicle sales back then. Thanks to improved fuel economy for light trucks and cheaper gas prices, this picture had completely changed in 2020. That year, prices for Brent oil dropped to just over ** U.S. dollars per barrel. The decline occurred in tandem with lower gasoline prices, which came to about **** U.S. dollars per gallon in 2020 - and cars only accounted for less than one-fourth of light vehicle sales that year. Four years on, prices are dropping again, after being the highest on record since 1990 in 2022.

United States Motor Vehicle Sales & Leases: New Vehicle: Passenger Cars data was reported at 7,530.000 Unit th in 2010. This records an increase from the previous number of 7,193.000 Unit th for 2009. United States Motor Vehicle Sales & Leases: New Vehicle: Passenger Cars data is updated yearly, averaging 10,220.000 Unit th from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 11,710.000 Unit th in 2000 and a record low of 7,193.000 Unit th in 2009. United States Motor Vehicle Sales & Leases: New Vehicle: Passenger Cars data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA005: Motor Vehicle Sales & Leases: Quantity.

In March 2025, around 2.57 million passenger cars and 431,000 commercial vehicles were produced in China. During the month, the industry produced more than three million vehicles, a rise of 42.9 percent from the previous month and 11.9 percent year-over-year. Automobile production in China In 2023, roughly 94 million automobiles had been produced worldwide. In the passenger car market, China’s annual production had exceeded that of Japan, Germany, India, and South Korea combined. China was also the world's largest automobile sales market in 2023. Leading car manufacturers in China Initially, foreign carmakers were required to form joint ventures with Chinese car manufacturers in order to build cars in China. This policy was implemented to support building the domestic automobile industry. However, this also meant that Chinese brands were having difficulties finding market acceptance in comparison with their international rivals. Among the ten leading passenger car manufacturers in China, the majority were joint ventures. As China is one of the largest vehicle markets worldwide, with passenger car sales amounting to more than 26 million units in 2023, competition for a share of the market is huge among both local and foreign players.

While electric vehicle sales have been skyrocketing in the past years, reaching around 16.7 percent of market share in 2023, changes are slower to impact the global passenger car fleet. In 2024, around 4.5 percent of this fleet was electric vehicles, which was the first time the EV stock share rose above four percent.

United States Motor Vehicle Sales & Leases: New Vehicle data was reported at 14,550.000 Unit th in 2010. This records an increase from the previous number of 13,053.000 Unit th for 2009. United States Motor Vehicle Sales & Leases: New Vehicle data is updated yearly, averaging 18,940.000 Unit th from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 22,700.000 Unit th in 2000 and a record low of 13,053.000 Unit th in 2009. United States Motor Vehicle Sales & Leases: New Vehicle data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA005: Motor Vehicle Sales & Leases: Quantity.

United States Electric Vehicle Sales: Personal Vehicle: Plug in Hybrid Electric data was reported at 173.500 Unit th in 2021. This records an increase from the previous number of 69.000 Unit th for 2020. United States Electric Vehicle Sales: Personal Vehicle: Plug in Hybrid Electric data is updated yearly, averaging 62.200 Unit th from Dec 2010 (Median) to 2021, with 12 observations. The data reached an all-time high of 173.500 Unit th in 2021 and a record low of 0.300 Unit th in 2010. United States Electric Vehicle Sales: Personal Vehicle: Plug in Hybrid Electric data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA009: Electric Vehicle Sales: Personal Vehicles.

United States Motor Vehicle Sales & Leases: New Vehicle: Sales data was reported at 11,580.000 Unit th in 2010. This records an increase from the previous number of 10,550.000 Unit th for 2009. United States Motor Vehicle Sales & Leases: New Vehicle: Sales data is updated yearly, averaging 15,100.000 Unit th from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 17,410.000 Unit th in 2000 and a record low of 10,550.000 Unit th in 2009. United States Motor Vehicle Sales & Leases: New Vehicle: Sales data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA005: Motor Vehicle Sales & Leases: Quantity.

In 2018, sport utility vehicles (SUVs) accounted for almost ** percent of new vehicle sales in the United States and, worldwide, more than every ***** vehicle sold was an SUV. This type of motor vehicle caused global carbon dioxide emissions to increase by more than *** gigatons between 2010 and 2018.

Until 2020, medium cars were the most popular segment within the battery-electric vehicle (BEV) market. Around 41 percent of all-electric cars sold worldwide in 2020 were medium-sized vehicles. By 2023, sport-utility vehicles had become the best-selling segment, amounting to 45 percent of all BEV global sales.

There were about 58.1 million electric vehicles in operation worldwide in 2024. That year, all-electric vehicles accounted for about 67.2 percent of plug-in electric vehicles. Electric vehicle market growth Globally, electric vehicle sales soared to approximately 17.3 million units in 2024. While conventional vehicle sales slumped amid the outbreak of the coronavirus pandemic, the market share of electric vehicles increased to between four and five percent in 2020, and has been rising ever since. China was the market with the largest battery-electric vehicle fleet in 2024, accounting for around 23 million of the world's battery-electric vehicle population. Manufacturers leading the Chinese market Leading the Chinese battery-electric vehicle market in 2023 was domestic manufacturer BYD. The company has been acknowledged for its innovation in battery technology. BYD also began manufacturing vehicles in foreign countries in 2015. Tesla. BYD's main competitor on the global market, was the second most popular BEV manufacturer in China.

United States Motor Vehicle Sales: Value: New Vehicle data was reported at 311.000 USD bn in 2010. This records an increase from the previous number of 274.000 USD bn for 2009. United States Motor Vehicle Sales: Value: New Vehicle data is updated yearly, averaging 316.000 USD bn from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 445.000 USD bn in 2006 and a record low of 208.000 USD bn in 1991. United States Motor Vehicle Sales: Value: New Vehicle data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA003: Motor Vehicle Sales: Value.

In 2024, approximately **** million passenger cars and **** million commercial vehicles had been sold in China. Passenger vehicle sales regained growth since 2021 after three consecutive years of decline. Vehicles sales The automobile industry has been a major driving force in China’s economic momentum and, despite slowing growth, expected to continue fueling the economy. China was the world’s leading car producing country in 2023, producing approximately ** million passenger cars and claiming ******* of total global vehicle production. However, while passenger car sales in China have been skyrocketing since 2008, they have slowed somewhat since 2017. Type of vehicles During the slowdown in the vehicle sales in China, the sale of minivans, multipurpose vehicles (MPV) and sedans have slowed, but the number of SUVs sold has increased in the same year, although all sales for passenger cars started slowing down since 2017. While the gas guzzling SUV is the most popular type of passenger car in China, the production of new energy vehicles is also on the rise since the government has been promoting their use. The export value of electric passenger vehicles from China surged in recent years.