At around **** percent, General Motors held the largest share of the auto market in the United States in 2024. General Motors remained the most successful automotive manufacturer in the United States. Between 2004 and 2021, however, the manufacturer lost market share, while that of Toyota rose as a result of an increased focus on light truck models in the lineup. This shifted in 2022, but 2023 led to another slight drop in market share of the American automaker. Asian manufacturers dominate non-domestic competition Among the non-domestic manufacturers, Asian automakers proved to be the most successful group. Asian car brands selling vehicles to customers in the United States include Toyota, Honda, Nissan, Hyundai, and Subaru. Toyota was also among the most valuable automotive brands worldwide as of June 2024. Both Toyota and Lexus were among the ten brands with the highest consumer satisfaction in the United States that same year. How many brands do auto manufacturers own? General Motors, Ford, and Toyota are the leading automotive manufacturers based on market share in the United States. The Ford Motor Company mainly sells vehicles under its namesake brand, while the Toyota Motor Corporation offers several brands, including Lexus and Toyota. General Motors sells vehicles under various brands, including Chevrolet, Buick, and GMC. In 2017, GM and PSA Group closed a deal in which the French carmaker acquired GM's Opel and Vauxhall brands.

In 2023, Honda's U.S. market share reached around 7.6 percent, up from about 6.4 percent between January and December 2022. U.S. motorists bought about 1.16 million Honda-branded vehicles between January and December 2023, a rise of around 31.3 percent year-over-year.

General Motors was the market leader in terms of U.S. light vehicle sales in 2024. Between January and December 2024, consumers in the United States bought around 2.7 million GM vehicles, making General Motors the producer of approximately 16.8 percent of the automobiles sold in the U.S. during that time.  Rebounding after a pandemic-related dip U.S. light-vehicle sales are stalling: the U.S. automotive industry sold roughly 15.86 million light vehicles between January and December 2024. This compares to about 15.5 million units one year before and close to 17 million vehicles in 2019. The trend is slightly different for America’s most popular manufacturer. GM’s global light vehicle sales declined in 2024, compared with the figures reported for the same twelve months in 2023. The U.S. automotive industry had several good years between 2015 and 2018, when consumers purchased more than 17 million light vehicles annually for an unprecedented four years in a row. This stellar spell came to an end in 2019. Slowing economies and the COVID-19 pandemic had a strong negative effect on vehicle production and consumption. The U.S. auto market had high hopes for a V-shaped recovery in 2021 and 2022, but the reality was different. Light vehicle sales in North America dropped to 16.4 million in 2022, after encouraging sales in 2021. The regional market was growing in 2024, but had yet to reach pre-pandemic levels. A competitive market The automobile market in the United States is a competitive space, with Toyota Motor trailing General Motors in the ranking. Chevrolet, a division of General Motors, recorded the second-best initial quality in the U.S. as of May 2024. It was preceded by Ram. Lexus, a subsidiary of Toyota, ranked eigth in this quality ranking but sixth in overall U.S. consumer satisfaction in 2024, with an index score three points above its main luxury car competitor, BMW. General Motors brands were at a similar position in the ranking, with the automaker's Cadillac brand earning the same index score as Lexus.

The North America Connected Car Market report segments the industry into By Technology Type (5G, 4G/LTE, 3G, 2G), By Application Type (Driver Assistance, Telematics, Infotainment, Other Application Types), By Connectivity Type (Integrated, Embedded, Tethered), By Vehicle Connectivity Type (V2Vehicle, V2Infrastructure, V2Pedestrain), By Vehicle Type (Passenger Cars, Commercial Vehicles), and By Country.

Tesla’s share of the U.S. automotive market in 2024 peaked in January when the brand's market share reached roughly *** percent. If only the U.S. electric vehicle (EV) market is considered, however, Tesla is the market leader in battery-electric car sales for the United States. Tesla Model Y electrifies the market Tesla’s Model Y was the leading electric vehicle model in the United States in 2024. The Model 3, which came second in the ranking, was marketed as the way to bring electric vehicles to the mass market, with a more affordable price than Tesla’s higher-end offerings. The company delivered about ******* Model 3s to U.S. customers, compared to ******* Model Ys. Tesla's worldwide deliveries Tesla's key markets include the United States and China. Worldwide, Tesla delivered nearly *** million vehicles in 2024. The global market for electric vehicles is projected to increase to around ***** billion U.S. dollars by 2029.

The North America Market Report is Segmented by Vehicle Type (Sedan, SUV/Crossover, and More), Drive Type (Internal Combustion Engine (ICE), Battery-Electric, and More), Price Band (Premium 50k–100k USD, Upper-Premium 100k–200k USD, and More), Sales Channel (Franchised Dealer, Direct-To-Consumer, and More), and Country (United States, Canada, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The US Used Car Market presents a diverse range of vehicles catering to diverse consumer needs and budgets: Passenger Cars: Sedans, SUVs, and hatchbacks remain the backbone of the market, offering reliable transportation at competitive price points. Light Commercial Vehicles (LCVs): Trucks, vans, and SUVs continue to be popular choices for small businesses and individuals needing versatile vehicles for work and personal use. Heavy Commercial Vehicles (HCVs): The demand for HCVs is driven by the logistics and transportation sectors, with a focus on fuel efficiency and reliability. Electric Vehicles (EVs): The used EV market is experiencing rapid growth, offering consumers a more affordable entry point into electric mobility. Specialty Vehicles: This category encompasses a variety of niche vehicles, from classic cars to recreational vehicles (RVs), catering to specific consumer interests and preferences. Recent developments include: December 2019: A deal to buy the business from AutoScout24 has been made by HELLMAN & FRIEDMAN LLC. The company continues to digitise its business models in the automotive sector, and with this purchase, it hopes to offer value-added marketing solutions.. Key drivers for this market are: Rising Demand for Affordable Transportation

Growing Popularity of Hybrid and Electric Vehicles. Potential restraints include: Fluctuating Vehicle Prices

Limited Inventory of High-Quality Used Cars. Notable trends are: Digitalization of the Used Car Buying Process

Integration of Artificial Intelligence (AI) and Machine Learning (ML).

The United States automotive dealership market, valued at XX million in 2025, is projected to grow at a CAGR of 4.00% from 2025 to 2033. Key market drivers include increasing vehicle sales, growth in the used car market, and rising demand for vehicle financing and insurance services. However, the market faces restraints such as the impact of economic downturns and competition from online car sales platforms. The market is segmented by type (new vehicle dealership, used vehicle dealership, parts and services, finance and insurance), retailer (franchised retailer, non-franchised retailer), and vehicle type (passenger cars, commercial vehicles). Major industry players include AutoNation Inc., Sonic Automotive Inc., Larry H. Miller Dealerships, Staluppi Auto Group, Lithia Motors Inc., Asbury Automotive Group Inc., Hendrick Automotive Group, Group 1 Automotive Inc., Penske Automotive Group, and Ken Garff Automotive Group. The market is primarily driven by the United States region, which accounts for the majority of market share. Recent developments include: July 2022: Lithia & Driveway (LAD) continued its US expansion by buying nine dealerships in southern Florida and one in Nevada, which are expected to add nearly USD 1 billion in annual revenue for the company. LAD also announced its expansion in Las Vegas, Nevada, with the addition of Henderson Hyundai and Genesis. With this purchase, LAD becomes the sole owner of the Hyundai and Genesis stores in the greater metro area., March 2022: Group1 Automotive Inc. announced that it completed a USD 2.0 billion five-year revolvings syndicated credit facility with 21 financial institutions that will expire in March 2027 and can be expanded to USD 2.4 billion total availability. The six manufacturer-affiliated finance companies are Mercedes-Benz Financial Services USA LLC, Toyota Motor Credit Corporation, BMW Financial Services NA LLC, American Honda Finance Corporation, VW Credit Inc., and Hyundai Capital America Inc., January 2022: Penske Automotive Group expanded its presence in the Austin/Round Rock market in Texas with the grand opening of the Honda Leander. The new dealership, located in Leander, Texas, is the retailer's 14th Honda store overall and is its ninth dealership in the market., January 2022: Sonic Automotive Inc., one of the nation's largest automotive retailers, acquired Sun Chevrolet in Chittenango, New York. Sonic also acquired Caputo's three used car locations in December 2021. The Chittenango location was the only new car dealership.. Key drivers for this market are: Rapid Urbanization and Demand for Convinient Transportation. Potential restraints include: Traffic Congestion in Major Cities. Notable trends are: Rising Focus of Automotive Dealers on Enhancing Consumer Experience and Dealer Network to Drive Demand.

At about **** percent, General Motors (GM) held a significant portion of the U.S. market in 2024. However, over the course of the last two decades, GM has lost a considerable amount of market share, which stood at about ** percent some 19 years ago. The company General Motors is a multinational company headquartered in Detroit and is ranked among the leading automobile manufacturers worldwide based on revenue. GM has had some variability in the number of cars sold worldwide, with a decline in recent years, especially after selling the Opel and Vauxhall brands to PSA. However, GM's financial statements indicate that there has been a recent increase in income globally, with 2024 having the highest sales revenue. The company's revenue had started to drop significantly in 2019, but by 2023, the company had recovered from the financial impact of the COVID-19 pandemic and supply chain shortages. GM includes many brands such as Chevrolet, Buick, GMC, Cadillac, and several other companies. The global automotive industry The global automotive industry is facing new challenges with the advent of smart technology. The recent decade has seen the greatest production volume of cars and commercial vehicles around the world, but the COVID-19 pandemic and global automotive chip shortage have led to production halts and to a steep decrease in the global automotive output. By 2024, the industry had started to recover from these challenges.

The United States Electric Car Market is segmented by Vehicle Configuration (Passenger Cars) and by Fuel Category (BEV, FCEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

The United States Used Car market was valued at USD 238.57 Billion in 2024 and is expected to reach USD 354.04 Billion by 2030 with a CAGR of 6.80%.

Automotive Market Outlook

According to our latest research, the global automotive market size reached USD 3.1 trillion in 2024, with a compound annual growth rate (CAGR) of 4.2% projected through 2033. By the end of this forecast period, the market is expected to attain a value of USD 4.5 trillion. This robust growth is primarily driven by technological advancements, the rapid adoption of electric vehicles, and evolving consumer preferences towards sustainable mobility solutions.

One of the most significant growth factors in the automotive market is the accelerating shift towards electrification. The increasing concerns over environmental sustainability and stringent emission regulations imposed by governments worldwide have compelled automakers to invest heavily in electric vehicle (EV) development. The proliferation of battery technologies, coupled with declining battery costs, has made EVs more accessible to a broader consumer base. This transition is further bolstered by supportive government policies, such as tax incentives and subsidies for EV buyers, as well as the expansion of charging infrastructure. As a result, electric vehicles are not only reshaping product portfolios but are also influencing supply chains and manufacturing processes across the industry.

Another critical driver for the automotive market is the integration of advanced electronics and digital technologies. The rise of connected vehicles, autonomous driving features, and sophisticated infotainment systems has transformed the traditional automobile into a smart mobility platform. Consumers now demand enhanced safety features, real-time navigation, and seamless connectivity, prompting manufacturers to invest in research and development for next-generation automotive electronics. Furthermore, the emergence of artificial intelligence (AI), machine learning, and the Internet of Things (IoT) in vehicle systems is creating new revenue streams and business models, such as mobility-as-a-service (MaaS) and over-the-air (OTA) software updates.

In addition to electrification and digitization, the automotive market is experiencing growth due to the rising demand for personal mobility and the recovery of global supply chains post-pandemic. Urbanization and increasing disposable incomes in emerging economies have spurred the sales of passenger cars and two-wheelers. Meanwhile, the commercial vehicle segment is benefiting from the surge in e-commerce and logistics activities, necessitating efficient transportation solutions. The aftermarket segment is also gaining traction, driven by the growing vehicle parc and consumer inclination towards vehicle customization and maintenance.

Regionally, the Asia Pacific continues to dominate the global automotive market, accounting for the largest share in both production and sales. This dominance is attributed to the presence of major automotive manufacturing hubs in China, Japan, India, and South Korea, as well as a rapidly expanding middle-class population. North America and Europe remain key markets due to their technological leadership and high adoption rates of advanced automotive technologies. However, regions such as Latin America and the Middle East & Africa are emerging as lucrative markets, fueled by infrastructure development and favorable government initiatives aimed at boosting local automotive industries.

Vehicle Type Analysis

The vehicle type segment of the automotive market is highly diversified, encompassing passenger cars, commercial vehicles, electric vehicles, two-wheelers, and other specialized vehicles. Passenger cars continue to represent the largest share of the market, driven by increasing urbanization, rising disposable incomes, and evolving consumer preferences for personal mobility. The global demand for passenger cars is particularly strong in emerging economies, where a growing middle class is seeking affordable and reliable transportation options. Automakers are responding by introducing a

The South America Passenger Cars Market is segmented by Vehicle Configuration (Passenger Cars), by Propulsion Type (Hybrid and Electric Vehicles, ICE) and by Country (Argentina, Brazil). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

The Report Covers the US Autonomous Vehicle Market and Its Growth. It is Segmented by Type (Fully Autonomous Vehicles and Semi-Autonomous Vehicles), Sensor (Lidar, Radar, Ultrasonic, and Other Sensors), and Level of Automation (Conditional Automation (Level 3), High Automation (Level 4), and Full Automation (Level 5)). The Report Offers Market Sizing and Forecasts in Value (USD) for all the Above Segments.

The North American Lightweight Car Market report segments the industry into By Material Type (Metals, Composites, Plastics, Others (Elastomer, etc.)), By Manufacturing Process (Extrusion, Stamping, Forging, Casting, Others (Molding, etc.)), By Application (Powertrain, Exterior Systems and Components, Interior Systems and Components, Frame), and By Country (United States, Canada, Rest of North America).

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Passenger Car Market Size 2024-2028

The passenger car market size is forecast to increase by USD 873.26 billion at a CAGR of 7.96% between 2023 and 2028.

The market is experiencing significant shifts, driven by the increasing acceptance of electric vehicles (EVs) and the integration of advanced technologies such as 3D printing. The growing preference for sustainable transportation solutions is propelling the adoption of EVs, with governments and consumers alike recognizing their environmental benefits. This trend is expected to continue, as advancements in battery technology and charging infrastructure make EVs increasingly practical and convenient for everyday use. However, the market's growth potential is not without challenges. Regulatory hurdles, including stringent emissions standards and safety regulations, impact adoption and increase production costs. Furthermore, the semiconductor shortage is causing supply chain inconsistencies, leading to production delays and higher prices for automakers.
To capitalize on market opportunities and navigate these challenges effectively, companies must stay informed of regulatory developments and invest in diversifying their semiconductor suppliers. Additionally, exploring collaborations with 3D printing technology providers can help streamline production processes and improve overall competitiveness in the market.

What will be the Size of the Passenger Car Market during the forecast period?

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The passenger vehicles industry in the US is experiencing dynamic shifts, with electric propulsion gaining traction among consumers. Middle-income groups are increasingly opting for sustainable mobility solutions, such as electric hatchbacks and compact SUVs, as lifestyle changes and environmental concerns become more prominent. The shift towards electric vehicles (EVs) is driven by various factors, including advancements in technology, charging infrastructure, and applicable taxes. Fuel prices and regulations continue to influence vehicle choices, with the European Union (EU) leading the way in implementing stringent emission norms. Raw material prices for Internal Combustion Engine (ICE) vehicles and the availability of affordable EV batteries further impact market trends.
Sedans remain a popular choice, but their market share is dwindling as SUVs gain popularity. Technological developments, such as the Internet of Things (IoT) and EV charging stations, are transforming the industry. General Motors, Chrysler, Hyundai Kona Electric, and other companies are investing in R&D to cater to evolving consumer preferences. The US passenger vehicles industry is witnessing significant growth, particularly in the EV segment. Per capita income plays a crucial role in determining the affordability of various vehicle types. As sustainable practices become increasingly important, the industry is expected to continue adapting to meet the demands of the urban population.

How is this Passenger Car Industry segmented?

The passenger car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  SUV
  Hatchback
  Sedan
  MPV


Fuel Type

  ICE Vehicles
  Hybrid
  Electric


Geography

  North America

    US


  Europe

    Germany


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Type Insights

The SUV segment is estimated to witness significant growth during the forecast period.

The market in the US is experiencing dynamic interplay between various entities, shaping its evolution. Combustion engines continue to dominate, offering power and flexibility, while fuel-efficient alternatives, including hybrid and electric vehicles, gain traction due to fuel price volatility and growing environmental concerns. Chrysler and General Motors, among others, innovate with personalized transportation solutions and enhanced features, catering to diverse consumer preferences. Emerging nations' increasing per capita income fuels overall market expansion, with compact SUVs and sedans popular choices for middle-income groups. Technological developments, such as the Internet of Things and advanced safety measures, add value, while regulations and economic challenges pose hurdles.

Electric vehicles (EVs) and electric vehicle batteries are at the forefront of innovation, with Hyundai Kona electric and Volvo's EV leading the charge. Alternative-fuel options, including diesel engines, face competition from EVs and hybrid vehicles. Urban population growth drives sales, with SUVs, hatchbacks, and sedans catering to various lifestyle changes and sustainable practices. Raw material prices and charging infrastructure development are crucial factors influencing the market landscape. The upward trend in sustai

The United States Commercial Vehicles Market is segmented by Vehicle Type (Commercial Vehicles) and by Propulsion Type (Hybrid and Electric Vehicles, ICE). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Vehicle TypePassenger Cars: Dominating the market with personal transportation needs.Commercial Vehicles: Used for business purposes, such as delivery and transportation.Three Wheelers: Popular in emerging markets for mobility.Two Wheelers: Used primarily for personal transportation.Fuel TypeDiesel: Traditionally used in heavy-duty vehicles and commercial transportation.Petrol: Widely used in passenger cars and light-duty vehicles.Electric: Gaining popularity due to environmental concerns and government incentives.ServiceMechanical: Essential maintenance and repairs for optimal vehicle performance.Exterior and Structural: Services to enhance vehicle aesthetics and protect from damages.Electrical and Electronics: Advanced services to maintain and upgrade electrical and electronic systems.EquipmentTires: Critical for vehicle safety, performance, and fuel efficiency.Seats: Ensure comfort and ergonomics for drivers and passengers.Batteries: Power source for electric and hybrid vehicles.Other Equipment Types: Include components like brakes, suspension, and lighting systems. Recent developments include: Launch of new electric and hybrid vehicle models.

, Investments in self-driving technology., Partnerships for ridesharing and car subscription services., Acquisition of automotive startups by tech companies.. Key drivers for this market are: Increasing demand for fuel-efficient vehicles.

Government incentives for electric and hybrid vehicles.. Potential restraints include: Supply chain disruptions due to global events.

Rising raw material costs.. Notable trends are: Integration of AI and ML technologies.

Proliferation of connected vehicles..

The size of the US Auto Loan Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 6.00">> 6.00% during the forecast period. The auto loan market encompasses the financial services dedicated to providing loans specifically for purchasing vehicles. This market facilitates access to financing for both new and used cars, allowing consumers to pay for their vehicles over time through structured repayment plans. Typically offered by banks, credit unions, and specialized lenders, auto loans come with varying interest rates and terms based on factors such as the borrower’s creditworthiness, the type of vehicle, and market conditions. The growth of the auto loan market is driven by increasing vehicle ownership rates, rising disposable incomes, and the demand for personal transportation, particularly in urban areas. Consumers benefit from the ability to own vehicles without having to make a full upfront payment, while lenders gain from interest payments over the loan duration. Additionally, trends such as the rise of digital banking and fintech solutions are enhancing the lending process, making it more accessible and streamlined for consumers. Despite challenges like economic fluctuations and competition among lenders, the auto loan market remains robust, adapting to changing consumer preferences and technological advancements to continue its expansion. Recent developments include: August 2022: United States Bancorp launched its innovative real-time payment system, RTP Network solution, through which it can provide loan funds to auto dealers after the finalization of a loan contract by the bank. United States Bancorp has its businesses spread over Consumer and Business Banking, Payment Services, Corporate and Commercial Banking, and Wealth Management and Investment Services., January 2023: AutoFi Inc., which exists as a digital commerce technology provider in sales and finance for the automotive industry in the United States, partnered with Santander Consumer USA Inc., which is a consumer finance company focused on vehicle finance. The partnership will likely bring to market digital products to improve consumers' and dealers' interaction with the lender and simplify the car buying experience.. Key drivers for this market are: Increase In Demand For Light Trucks, Quick Processing of Loan through Digital Banking. Potential restraints include: Increasing Inflation In Automobile Market. Notable trends are: Rising Price of Automobiles.

U.S. Flexfuel Cars Market valued at US$ 5.36 billion in 2025, is anticipated to reaching US$ 8.45 billion by 2032, with a steady annual growth rate of 6.7%.