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.

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 *** million GM vehicles, making General Motors the producer of approximately **** 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 ***** million light vehicles between January and December 2024. This compares to about **** million units one year before and close to ** 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 ** 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 **** 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 eighth in this quality ranking but sixth in overall U.S. consumer satisfaction in 2024, with an index score ***** 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.

In 2024, Ford remained the leading car brand in the United States based on vehicle sales, delivering about *** million units to U.S. customers. The United States is the largest market for Ford: wholesales to U.S. dealerships reached over *** million vehicles in 2023. Car sales among major manufacturers The top three U.S. car brands are assembled and distributed by the leading manufacturers in the U.S. market: Ford Motor Company, Toyota Motor Corporation, and General Motors (GM). As of the fourth quarter of 2024, GM's largest segment of sales was attributable to its Chevrolet-badged vehicles. Within the Ford Motor Corporation, the Ford division accounted for the largest number of vehicle sales. And finally, Toyota’s largest distribution of this sales volume was attributable to the Toyota brand vehicles. Automotive industry overview Production and sales volumes are declining among the key automotive brands in the United States, as a result of the accelerated automotive semiconductor shortage, the COVID-19 pandemic, and the fact that the automotive manufacturing and sales market is highly competitive both within the U.S. and globally. Electric vehicles emerged as the leading trend in Europe since 2020 and the U.S. electric vehicle industry has been catching up. Furthermore, it is forecast that autonomous vehicles will disrupt the U.S. market between 2020 and 2030.

In 2024, the ranking of the world’s largest car brands was topped by Toyota with a market share of around **** percent. The Toyota brand is owned by Japan's Toyota Motor Corporation, the world's largest motor vehicle manufacturer. New trends in the auto industry In light of growing environmental awareness and increasing efforts to connect vehicles, automotive manufacturers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric and autonomous vehicles are set to revolutionize the industry. Palo Alto-based Tesla Motors is currently among those at the vanguard of the trend towards electrification, along with the Chinese car manufacturer BYD. Tesla delivered nearly **** million vehicles in 2024, meaning that Volkswagen Group's sales tally is over **** times as much. The state of the global auto industry Car sales worldwide have dipped between 2019 and 2020 as a result of the economic downturn generated by the COVID-19 pandemic. 2021 sales recovered, despite remaining below 2019 levels, but supply chain shortages led to a slow recovery of sales in 2022. By the end of 2023, the global car sales volume had grown over pre-pandemic levels. China was the largest automobile market based on new passenger car registrations, recording close to **** million units sold. It was followed by the United States and Europe. China was also the leading passenger car producing country in 2024.

In 2023, most automakers in the United States experienced higher sales of battery-electric vehicles (BEVs) compared to plug-in hybrid electric vehicles (PHEVs). However, Stellantis and Mitsubishi exclusively sold PHEVs, while Mazda primarily focused on PHEVs with a ** percent share. Notably, high-end car manufacturers like Toyota and Jaguar Land Rover also saw greater sales of PHEVs over BEVs. In contrast, Tesla, Mercedes-Benz, GM, and Nissan exclusively offered battery-electric vehicles for their 2023 electric vehicle sales.

In 2023, Volvo was the second manufacturer with the largest share of electric vehicles among its total U.S. sales, behind fully-electric manufacturer Tesla. Volvo's **** percent EV share was about ** percent higher than that of BMW following, the highest-ranking manufacturer. Tesla was the global market leader for battery-electric vehicles in 2022, with around *** million sales.

The statistic depicts selected manufacturers' sales of automobiles equipped with stop-start technology in the U.S. as a share of their total U.S. sales in 2015. That year, some ** percent of vehicles sold by BMW were equipped with start-stop technology.

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.

The statistic depicts selected manufacturers' sales of automobiles equipped with stop-start technology in the U.S. as a share of their total U.S. sales in 2015. That year, some ** percent of vehicles sold by BMW were equipped with start-stop technology.

Automobile engine and parts manufacturers produce gasoline and diesel-powered engines and parts. The industry primarily consists of vertically integrated automobile manufacturers and large companies providing engines that fill supplementary contracts for automakers and aftermarkets. Manufacturers are highly globalized, benefiting from international supply chains and global demand. Even so, volatile economic conditions, skyrocketing input costs, worker strikes and massive pressure from both foreign manufacturing powers and electric vehicles have slammed revenue and profit growth. However, falling rates, rebounding economic conditions and easing supply chains have created positive tailwinds, though the threat and implementation of tariffs have sent the industry into contraction in 2025. Overall, revenue for automobile engine and parts manufacturers has expanded at an expected CAGR of 0.3% to $40.3 billion through the current period, despite an estimated 4.7% decline in 2025, where profit reached 4.6%. Increased environmental consciousness and high fuel prices have pushed consumers to reevaluate owning gasoline-powered cars. The federal government has also provided subsidies to electric vehicle producers and consumers purchasing EVs to facilitate the shift from fossil fuels. Gasoline-powered engine and parts manufacturers have prioritized more efficient engines to combat EV production and meet efficiency standards. Many companies have also automated to cut costs as substitute products squeeze revenue and profit opportunities. On the other hand, higher steel and aluminum prices pressured purchasing costs, though most manufacturers successfully leveraged globalized supply chains or vertical integration to remain profitable. The economy's recovery will also rejuvenate demand; consumers will have more disposable income to purchase new vehicles, get repairs and take road trips. Even so, external competitors, namely electric vehicles and improved public transportation infrastructure, will remain major threats to sustained revenue growth. Regardless, intermediate emissions goals will support the development of innovative combustion engines and hybrid solutions, creating additional demand for leading innovators. Overall, revenue will climb at an estimated CAGR of 1.8% to $44.1 billion through the outlook period, with profit settling at 5.0%.

125 MPH+ Performance: This segment targets high-performance electric vehicles with a top speed exceeding 125 MPH, appealing to enthusiasts and track enthusiasts.Range: Electric vehicles are categorized based on their driving range on a single charge: Less than 300 Miles: Ideal for daily commutes and urban use. More than 300 Miles: Offers extended range for longer journeys and road trips. Vehicle Drive Type: This segment classifies vehicles based on their drivetrain: Front Wheel Drive: Provides good traction and handling. Rear Wheel Drive: Enhances stability and performance. Four Wheel Drive: Improves traction and off-road capabilities. All Wheel Drive: Similar to four-wheel drive, but with advanced electronic control for optimized power distribution. End Use: Electric vehicles are used for various purposes: Private: Personal transportation by individual consumers. Commercial Fleets: Electric vehicles deployed by businesses for transportation, delivery, and other commercial activities. Vehicle Type: The market is segmented based on vehicle type: Passenger Cars: Electric vehicles designed for personal and family transportation. Commercial Vehicles: Electric vehicles used for commercial purposes, such as delivery vans and public transportation buses. Two & Three Wheelers: Electric vehicles with two or three wheels, including motorcycles, scooters, and tricycles. Off-Highway Vehicles: Electric vehicles designed for off-road use, such as ATVs and golf carts. Technology: Electric vehicles employ different technologies: Battery Electric Vehicles (BEVs): Vehicles powered solely by electric motors using energy stored in batteries. Plug-In Hybrid Electric Vehicles (PHEVs): Hybrid vehicles that combine an electric motor and a gasoline engine, offering both electric and gasoline propulsion. Fuel-Cell Electric Vehicles (FCEVs): Vehicles powered by hydrogen fuel cells that react with oxygen to produce electricity, emitting only water vapor. Recent developments include: April 2024: Recently, BYD's new all-electric car, the SEAGULL, made its official debut in Colombia. Local customers have been eagerly awaiting the BYD SEAGULL since its introduction at the Colombia Auto Show last year. With its sleek appearance, state-of-the-art electric features, and great value for money, this little electric hatchback is sure to become the preferred vehicle for young urban Colombians. More than 600 media representatives and customers attended the launch event, which received praise from the local press for being Colombia's premier new product launch each year., According to Li Nan, Deputy General Manager of BYD America Auto Sales Division, "BYD has been committed to advancing the development of electric mobility since joining the automotive industry in 2003." With total sales of over 7 million vehicles worldwide, BYD has emerged as the market leader in the world for new energy vehicles. In the future, we hope to provide customers with even more dependable and high-quality products. More young Colombians will be able to purchase their first battery-electric car thanks to the launch of the BYD SEAGULL.", "The Colombian automotive market faces significant challenges in 2024," said Marco Pastrana, general manager of Motorysa, BYD's partner in Colombia. In spite of these obstacles, BYD has seen an astounding 31% increase in sales. BYD has continuously led the market in new energy passenger vehicle sales since entering Colombia. The BYD SEAGULL's introduction is expected to strengthen Colombia's stance on environmentally friendly transportation, demonstrating the nation's readiness to embrace the future of electric mobility.", January 2023: Once a longshot startup, Tesla grew to become the largest manufacturing employer in the state and the leading manufacturer of electric vehicles worldwide in just 20 years since its founding in San Carlos, California. Over the past ten years, the US has lost a lot of manufacturing jobs, and global supply chains have been shaken up, but Tesla has defied the trend by increasing employment and production in the US. The employment in California that was fueled by Tesla increased by 40% between 2018 and 2021, and the state's wages that year exceeded the national average by 50%, offering the highest compensation in our industries., Over 80,000 direct and indirect jobs in California were supported by Tesla in 2021. Of these, more than 43,000 were the result of spending $1.6 billion with suppliers in California. For every 100 direct Tesla jobs, the supply chain supported an additional 50 jobs, and subsequent consumer activity supported an additional 68 jobs. Tesla paid $1 billion in federal, state, and local taxes on average between 2018 and 2021; in 2021, state and local taxes accounted for about $400 million of the total. Between 2018 and 2021, Tesla's average share of the state's gross state product (GSP) increased by 42%, outpacing the state's GSP growth of 16%. $16.6 billion in economic activity, or $44.4 million every day, was generated by the wages of Tesla and jobs related to Tesla.. Key drivers for this market are: Government Incentives: Tax breaks, rebates, and charging infrastructure investments stimulate electric vehicle adoption. Falling Battery Costs: Declining battery costs make electric vehicles more affordable and competitive.. Potential restraints include: Range Anxiety: Concerns about driving range and availability of charging stations hinder widespread adoption. Charging Infrastructure Discrepancies: Uneven distribution and limited availability of public charging stations pose challenges.. Notable trends are: Autonomous Driving Integration: Electric vehicles are becoming testbeds for autonomous driving technologies, enhancing safety and convenience. Battery Swapping Infrastructure: Swapping depleted batteries for charged ones is gaining popularity to address range anxiety..

Used car dealers in the United States had a market size of ***** billion U.S. dollars in 2021. While the industry value dipped at the onset of the COVID-19 pandemic, used car sales quickly recovered, with used car dealers' market value hiking above its pre-pandemic levels. The used car market boom The used car market has been gaining steam since 2017 when the volume of used light vehicles sold hiked by just under ** percent year-over-year to **** million sales. By 2021, around **** million used light vehicles were sold in the U.S, representing just under ** percent of the total light vehicle sales in the country. While sales increased, the average used vehicle selling price also inflated—up ** percent year-over-year in 2021—with vans, sport-utility vehicles, and crossover utility vehicles recording the steepest price increase. The semiconductor shortage, forcing halts in new vehicle production, is partly responsible for this boom in the used car market. Most used vehicle retail inventory in June 2022 was priced above ****** U.S. dollars, making the used car market increasingly inaccessible to consumers. Light trucks at the forefront of sales U.S. consumer satisfaction with their overall shopping experience dropped in 2021, with used car buyers reporting a satisfaction rate of ** percent, compared to ** percent in 2020. While 2021 satisfaction is higher than in 2019, this denotes the impact of higher prices on customers. Most consumers opted for used light trucks instead of used automobiles. The net purchase of used light trucks spiked in the third quarter of 2019, reaching ***** billion U.S. dollars in the second quarter of 2022, while auto sales had a net purchase value of ** billion U.S. dollars that same quarter. The Ford F-150, Chevrolet Silverado 1500, and Ram Pickup 1500 were the 2016 to 2020 MY models with the largest share of used car sales in the U.S. Ford was also the third best-selling manufacturer for new vehicles in the U.S.

As of November 2023, it would have taken over 128 days for the Jeep vehicle stock to run out in the United States, with sales remaining constant. The brand was followed by Infiniti, which counted some 120 days of supply. By contrast, Toyota and Honda recorded the lowest supplies, at 32 and 40 days of supply respectively. Supply and demand The issue of supply and demand in the automotive industry during the last few years has been nothing but dynamic. Following the COVID-19 pandemic, consumer needs shifted and there was a sharp drop in light vehicle sales. Although sales increased from 14.5 million in 2020 to 15.5 million units in 2023, they were still below pre-pandemic levels. During this period, motor vehicle production had almost fully recovered from pre-pandemic dips, reaching about 10.6 million units in 2023. The light vehicle sales do not account for all motor vehicles sold, and even then, as both sales and vehicle production rose, production still could not account for all the rising demand. This is further indicated by an inventory-to-sales ratio of about 0.65 in the U.S. automotive industry at the start of 2023. In the face of production disruptions and shifting consumer desires, alternatives such as electric vehicles have gained popularity. The allure of electricity Prior to the pandemic in 2020, there were already many concerns regarding the CO2 emissions caused by motor vehicles. As of 2023, the share of the transportation sector in the overall CO2 emissions of the US was greater than any other source. Further after the pandemic in 2020, gas prices began to climb. Due to the mounting pressures, the popularity of electric vehicles began to grow, shifting motor vehicle production to cater to this increased popularity. This is seen in ever increasing global electric vehicle sales.

Crossovers are Americans’ favorite type of passenger vehicle. This category accounts for over ** percent of automobile sales in the United States as of June 2022. The most popular models include Honda’s CR-V, Nissan’s Rogue, and Toyota’s RAV4. In the first quarter of 2022, U.S. auto buyers bought just under ******* units of Toyota’s RAV4 model, making it the best-selling vehicle in this category. Toyota is the market leader   The RAV4 was one of the very first specimens of its kind, as production of this model began in 1994. Toyota was the second most valuable automotive manufacturer worldwide in 2022, with a brand value of just over **** billion dollars. It followed Tesla, which was first in the ranking with a gap of over ** billion dollars compared to the runner-up. Toyota’s net revenue rose to **** trillion Japanese yen in 2022 (around *** billion U.S. dollars as of March 2022 exchange rates), a visible growth of over ** percent compared to 2021, despite the manufacturer being impacted by the global automotive chip shortage.  Crossovers benefit from the shift away from sedans   Crossover SUVs (sport utility vehicles) combine the fuel efficiency levels of compact and midsized cars and the higher seating positions of light trucks. They gained in popularity when fuel prices were low and, consequently, automakers increased production volumes and model additions of this vehicle type. Between 2014 and 2021, U.S. car sales fell from over *** million to around **** million units. Concurrently, light truck sales increased from *** million units in 2014 to close to **** million units in 2021. The impact of the COVID-19 pandemic on vehicle demand led to a *** percent drop in light truck sales in 2020. This drop in vehicle sales impacted countries across the globe. In 2020, Germany recorded a loss of over ******* sales of SUVs compared to 2019, whereas China’s new SUV registrations remained stable between the two years.

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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 sustainabl

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Car Sharing Market Size 2025-2029

The car sharing market size is forecast to increase by USD 22.4 billion, at a CAGR of 22.1% between 2024 and 2029.

The market is experiencing significant growth, driven by increasing investments in autonomous car production and the subsequent integration of car sharing services. This trend is transforming the automotive industry, as companies explore new business models that leverage advanced technologies to offer more convenient and cost-effective mobility solutions. However, the market's expansion is not without challenges. Strict government regulations regarding emission control pose a significant obstacle, as policymakers seek to mitigate the environmental impact of these services. Additionally, rigid government regulations pertaining to car sharing services themselves create complex operational environments, necessitating compliance with various safety, insurance, and licensing requirements. Companies navigating this market must carefully balance innovation and regulatory compliance to capitalize on the opportunities presented by the evolving car sharing landscape.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with customer experience management playing a pivotal role in shaping the industry's trajectory. Public-private partnerships foster innovation, enabling the integration of dynamic pricing mechanisms that optimize fuel efficiency and promote green technology adoption. Multi-modal transportation networks and urban mobility solutions are seamlessly merging, with real-time vehicle tracking and on-demand transportation services streamlining urban transportation planning. Public transportation integration and parking management systems are key components of smart city initiatives, reducing carbon footprints and mitigating traffic congestion. Vehicle fleet management and inventory management are essential for optimizing vehicle utilization and ensuring regulatory compliance. Dynamic pricing mechanisms and user interface design are crucial in catering to diverse customer segments, with ride-hailing platforms and bike-sharing programs offering micro-mobility options. Peer-to-peer car sharing and ride-sharing partnerships are transforming the industry, with electric vehicle integration and subscription models gaining popularity. The ongoing integration of green technology, sustainability initiatives, and autonomous vehicles is revolutionizing the car sharing landscape. Vehicle telematics and mobile app development are enhancing the customer experience, while community engagement and traffic congestion mitigation are essential for long-term success. The evolving market dynamics of car sharing encompass various sectors, including intercity travel solutions, last-mile delivery services, and mobility-as-a-service (MAAS). Demand forecasting and environmental impact assessment are crucial in ensuring the sustainability and growth of these services. Spare parts management and payment gateway integration are vital components of vehicle maintenance schedules and ride-hailing platforms. In conclusion, the market is an ever-changing landscape, with continuous innovation and integration of various components shaping its future. From customer experience management to green technology adoption, the industry's dynamism is evident in its ongoing evolution.

How is this Car Sharing Industry segmented?

The car sharing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userBusinessIndividualMode Of BookingOnlineOfflineGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW).

By End-user Insights

The business segment is estimated to witness significant growth during the forecast period.The market is experiencing significant growth in the business segment due to various factors. One key driver is the adoption of this service for fleet optimization and cost reduction. By implementing car sharing, companies can save on fleet-related expenses and make efficient use of underutilized vehicles. Additionally, car sharing offers a sustainable mobility solution, enhancing corporate social responsibility. This not only decreases the need for car renting but also saves time and resources through advanced vehicle management. Furthermore, the integration of public transportation, real-time tracking, and multi-modal transportation networks enables seamless urban mobility. The implementation of green technology, electric vehicles, and micro-mobility options also contributes to the reduction of carbon footprints. Publ

Between January and December 2024, Ford was the leading light vehicle brand in the United States with a 13.33 percent market share. Ford sold just over 2.1 million light vehicles to U.S. customers that year. With a market share of 12.37 percent, Toyota took second place in the ranking.

The United States car rental market is estimated to grow steadily, with a market size of USD 35.4 billion in 2025, increasing to USD 56.9 billion by 2035. The industry will grow at a CAGR of 4.85% between 2025 and 2035 due to the growth in demand for dynamic transportation alternatives and the integration of digital rental platforms.

Car Rental Industry Analysis in the United States

Competitive Outlook

The Car Rental Industry is steering toward high-tech roads, as evidenced by its recent focus on connected car technologies, telematics and data analytics. Companies broadened their car rental portfolios by adopting many diverse vehicle options, catering to modern travelers' rising demands and diversified expectations. Stay-at-home orders during the pandemic prevented traveling, which decimated the market for car rentals. Pent-up demand for travel and a limited supply of new vehicles caused industry revenue to surge in 2021 and 2022, as high demand and low supply elevated rental prices. More recently, inflationary concerns led some consumers to postpone traveling, constraining additional growth. Industry revenue has climbed at a CAGR of 7.8% to reach $65.3 billion through the end of 2025, including a swell of 3.0% in 2025 alone. Profit has recovered from the lows endured during the pandemic, accounting for an estimated 8.9% of industry revenue in 2025. New car prices have continued to expand, making renting more cost-effective. Car sharing has also become popular in recent years. Other modes of transportation, such as public transportation, ride-sharing and taxi cabs, are substitutes for renting and continue to disrupt services. Car rental services are still less expensive than ride-sharing and taxis, are more efficient than public transportation and will continue to attract customers. Strategic partnerships with other companies will continue to help car rental services. Direct affiliations with manufacturers will lead to lower expenses. Deals with local airports and tourism companies will expand their customer base and help businesses personalize their rental services. Adopting new technology to streamline the rental process will be critical to competing with ride-sharing apps and boosting profit. Setting up automated kiosks in physical locations will simplify checkout while reducing wages. Car rental revenue will expand at a CAGR of 2.2% to $72.8 billion through the end of 2030.

In 2024, the best-selling car brand in Qatar was Toyota, with about 31 percent share of new car sales. It was followed by Nissan with a market share of 8.7 percent. GCC automobile trends   The automotive manufacturers worldwide recognize the importance of the Gulf Cooperation Council (GCC) region, with the noticeable expansion of the region’s vehicles market over the years. It is a promising market for both mass-market vehicle manufacturers and companies manufacturing premium vehicles. Premium vehicles have been gaining popularity in countries such as Saudi Arabia and the United Arab Emirates (UAE). In 2019, the three most searched for car models above 240 thousand Emirati dirhams in the UAE were Mercedes S-Class, LR Range Rover, and Porsche Cayenne. The GCC region has been witnessing an increase in the aftermarket and used car sales volume with an expectation in 2018 of reaching almost 40 billion U.S. dollars by 2024. However, after the COVID-19 pandemic that occurred in the early months of 2020, the public started changing their preference from buying new cars to used cars instead. This was a result of reduced consumer confidence and financial consciousness that came with the uncertainty. Qatar automobile industry Qatar has a very promising and quick growing vehicle market in the GCC. In 2019, the number of passenger cars sold was almost 40 thousand, and the number of commercial vehicles was almost eight thousand. The automobile industry in Qatar depends on factors such as the availability of workers, government support, continuous research and development efforts, and geographic advantages. The country had the second-highest road density in the Middle East and North Africa (MENA) region of more than 866 meters of road per square kilometer in 2020. The industry has shown a great growth potential, with the country’s economic development and increasing household purchasing power. However, the car market in Qatar was strongly affected by the worldwide COVID-19 outbreak. It has led to a significant drop in car sales compared to 2019.