When asked about "Car ownership", * percent of U.S. respondents answer ********************. This online survey was conducted in 2025, among 13,687 consumers. Looking to gain valuable insights about car owners across the globe? Check out our reports about consumers of car brands worldwide. These reports provide readers with a detailed understanding of car owners: their identities, preferences, opinions, and how to effectively engage with them.

On average, there are 1.88 vehicles per U.S. household. According to the U.S. Department of Transportation, the percentage of households without a car or light truck came to around nine percent in 2017, meaning that about 90 percent of households had at least one light vehicle at their disposal in that same year.

Most Americans drive daily

In a recent Gallup poll among U.S. adults, about 64 percent of respondents claimed to drive daily, while another 19 percent of respondents stated that they would use a motor vehicle multiple times in an average week. These figures are in line with the U.S. motorization rate, which stood at 821 vehicles per 1,000 inhabitants in 2015.

 These streets were made for driving  

The United States has the most extensive road network, compared to any other country in the world: its road network encompasses almost 6.6 million kilometers or about four million miles. In 2018, there were about 270 million vehicles roaming the streets of the country.

According to the Statista Consumer Insights, carried out between October 2022 and September 2023, ** percent of respondents in the United States indicated that they had access to a car in their household. This is a slight decrease compared to previous years. In 2019, ** percent of respondents said that they had access to a car.

We asked U.S. consumers about "Car ownership by make / brand" and found that *********** takes the top spot, while ************ is at the other end of the ranking.These results are based on a representative online survey conducted in 2025 among 11,627 consumers in the United States. Looking to gain valuable insights about car owners across the globe? Check out our reports about consumers of car brands worldwide. These reports provide readers with a detailed understanding of car owners: their identities, preferences, opinions, and how to effectively engage with them.

Graph and download economic data for Expenditures: Vehicle Purchases: Cars and Trucks, New by Age: from Age 65 to 74 (CXUNEWCARSLB0408M) from 1984 to 2023 about 65-years +, age, purchase, trucks, vehicles, expenditures, new, and USA.

Chevrolet was the brand which was most frequently the primarily used car of Millennials, Gen Xers, and Baby Boomers in the United States, based on a June 2025 survey. Comparatively, 11 percent of Gen Zers reported Honda as the make of their main household car.

Car loan interest rates in the United States decreased since mid-2024. Thus, the period of rapidly rising interest rates, when they increased from 3.85 percent in December 2021 to 7.92 percent in June 2024, has come to an end. The Federal Reserve interest rate is one of the main causes of the interest rates of loans rising or falling. If inflation stays under control, the Federal Reserve will start cutting the interest rates, which would have the effect of the cost of car loans falling too. How many cars have financing in the United States? Car financing exists because not everyone who wants or needs a car can purchase it outright. A financial institution will then lend the money to the customer for purchasing the car, which must then be repaid with interest. Most new vehicles in the United States in 2024 were purchased using car loans. It is not as common to use car loans for purchasing used vehicles as for new ones, although over a third of used vehicles were purchased using loans. The car industry in the United States The car financing business is huge in the United States, due to the high sales of both new and used vehicles in the country. A lot of the United States is very car-centric, which means that, outside large cities, it can often be difficult to do their daily commutes through other transportation methods. In fact, only a small percentage of U.S. workers used public transport to go to work. That is one of the factors that has helped establish the importance of the automotive sector in North America. Nevertheless, there are still countries in Asia-Pacific, Africa, the Middle East, and Europe with higher car-ownership rates than the United States.

Outright car purchase is becoming less popular among consumers in the United States, according to a July 2023 survey. Over **** of respondents mentioned their current vehicle had been an outright purchase, but just over ** percent considered it likely that they would obtain their next car through the same ownership method. In contrast, car subscriptions and car leasing represented a slightly higher share of future ownership compared to current ownership.

Nearly a ******* of new vehicles in the United States were leased in 2025, with the rest being sold outright. The percentage found in the third quarter of 2021 was even higher, with **** percent of new vehicles in the U.S being leased that year. Why lease a vehicle? When leasing a vehicle, the cost of depreciation is absorbed by the leaser, rather than the consumer. Similarly, maintenance costs are often paid by the company leasing the car, in order to keep the car in good condition for eventual sale after the lease ends. Finally, with the interest rates on auto loans between ***** and ***** percent on average for a 60-month loan in 2025, financing a car purchase can add a significant amount to the sticker price. The auto market in the United States Vehicle sales in the United States amount to millions of cars per year. Through leasing new cars, drivers have the opportunity to enjoy a new vehicle without worrying about the longer term issues of car ownership. For suppliers, the cars retain a significant portion of their original value. After the lease, suppliers can then sell them in the automotive aftermarket.

Sample descriptive statistics by relationship status.

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US Used Car Market Size 2025-2029

The US used car market size is forecast to increase by USD 40.2 billion, at a CAGR of 4.3% between 2024 and 2029.

The used car market in the US is witnessing significant growth, driven by the excellent value proposition that used cars offer to consumers. The increasing popularity of websites dedicated to selling used cars has expanded market reach and convenience, allowing consumers to browse and purchase vehicles online. Stringent emission regulations are restricting the sales of non-compliant used cars, necessitating investments in upgrading and maintaining commercial vehicle fleets to meet regulatory requirements. These regulations necessitate investments in emission testing and certification processes, increasing operational costs for dealers. To capitalize on opportunities, dealers can focus on offering certified pre-owned vehicles and implementing robust emission testing procedures.
Additionally, leveraging digital marketing strategies and offering flexible financing options can help attract and retain customers. Overall, the used car market presents both challenges and opportunities for players, requiring strategic planning and innovation to succeed.

What will be the size of the US Used Car 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.
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The used car market in the US continues to evolve, with various sectors adapting to emerging trends and technologies. Vehicle data analysis plays a pivotal role in understanding vehicle depreciation curves and return on investment for dealers. Payment processing systems streamline sales transactions, while sales performance metrics and customer lifetime value inform strategic decision-making. Fraud detection systems ensure compliance with legal standards, and insurance cost factors influence acquisition channel efficiency. Inventory turnover rate, a key performance indicator, varies across dealerships. Compliance audits and dealer training programs maintain legal compliance and improve customer satisfaction. Market penetration rate and resale value prediction help dealers optimize pricing models.
Consumer protection laws and financing product offerings shape customer trust and loyalty. Operating costs analysis, customer service feedback, and sales conversion rates contribute to profit margin calculation. Risk assessment models, employee performance metrics, marketing spend efficiency, and pricing model validation are essential for long-term success. A recent study reveals a 5% increase in sales for dealerships implementing advanced data analytics. Industry growth is expected to reach 3% annually, driven by these evolving market dynamics.

How is this market segmented?

The US used car market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  3P channel sales
  OEM channel sales


Product

  Mid size
  Full size
  Compact size


Vendor Type

  Organized
  Unorganized


Fuel Type

  Diesel
  Petrol


Geography

  North America

    US

By Distribution Channel Insights

The 3P channel sales segment is estimated to witness significant growth during the forecast period.

The used car market in the US is an active and dynamic sector, driven by various factors. With the constant launch of new vehicle models, the supply of used cars increases, resulting in lower prices compared to new cars. This trend encourages car owners to sell their vehicles and upgrade to newer models, shortening the average ownership cycle. Online advertising platforms play a significant role in connecting buyers and sellers. Pre-purchase inspections and vehicle history reports ensure transparency and build trust. Repairs cost estimation and parts sourcing networks help in managing the expenses of used car ownership. Market segmentation strategies cater to different customer needs, while customer relationship management tools foster loyalty.

Emissions testing standards ensure the environmental sustainability of used vehicles. Auto appraisal value tools help in determining fair prices, and loan term comparison aids in financing decisions. Marketing campaign effectiveness is measured through customer acquisition cost and interest rate calculation. Mobile apps offer functionalities like mechanical inspection checklists, paint depth measurement, and damage assessment tools. Dealer inventory management, detailing services, and vehicle photography techniques enhance the sales process. Industry growth is expected to continue, with the used car market projected to expand by 3% annually. For instance, a dealership successfully increased its sales by 15% thr

The US auto loan market, a significant segment of the broader automotive industry, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 6% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, a recovering economy and increasing consumer confidence are driving demand for both new and used vehicles, leading to a surge in auto loan applications. Secondly, the availability of diverse financing options from banks, OEMs (Original Equipment Manufacturers), credit unions, and other lenders fosters accessibility for a wider range of borrowers. The market is segmented by vehicle type (passenger and commercial), ownership (new and used), end-user (individual and enterprise), and loan provider. The prevalence of online lending platforms and streamlined application processes is further accelerating market growth. Competition among lenders is fierce, leading to innovative loan products and competitive interest rates, benefiting consumers. However, potential headwinds include fluctuating interest rates, economic uncertainty, and potential shifts in consumer spending habits. The growth trajectory remains positive, with significant opportunities for lenders and automotive companies to capitalize on the expanding market. The increasing popularity of electric vehicles (EVs) is significantly influencing the market. While still a smaller segment, auto loans specifically designed for EV purchases are gaining traction, driven by government incentives and growing consumer adoption of sustainable transportation. The used car market also plays a vital role, representing a substantial portion of auto loan volume. The rise of online used car marketplaces and their integration with financing options are impacting the landscape. Regional variations exist, with higher growth anticipated in regions with stronger economic performance and higher vehicle ownership rates. The continued development of sophisticated credit scoring models and risk assessment tools further enhances lenders' ability to manage risk and extend credit more effectively. Overall, the US auto loan market presents a dynamic and lucrative environment, presenting both opportunities and challenges for stakeholders. 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: Increase In Demand For Light Trucks, Quick Processing of Loan through Digital Banking. Notable trends are: Rising Price of Automobiles.

The association between the unemployment rate and home and car ownership.

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 United States car insurance market, a substantial sector valued at approximately $194.15 billion in 2025, is projected to experience steady growth, fueled by a Compound Annual Growth Rate (CAGR) of 4.21% from 2025 to 2033. This growth is driven by several key factors. The increasing number of vehicles on the road, coupled with rising vehicle prices and repair costs, necessitates higher insurance premiums. Furthermore, stricter regulations regarding minimum insurance coverage and a growing awareness of the risks associated with uninsured or underinsured motorists are contributing to market expansion. Technological advancements, such as telematics and usage-based insurance, are also influencing market dynamics, offering personalized premiums based on driving behavior and promoting safer driving practices. The market is segmented by coverage type (third-party liability, collision/comprehensive, and other optional coverages), vehicle type (personal and commercial), and distribution channel (agents, banks, brokers, and others). Competition within the sector is fierce, with major players like State Farm, Berkshire Hathaway, Progressive, Allstate, and USAA vying for market share through innovative products and targeted marketing campaigns. The market's robust growth is expected to continue, driven by sustained economic activity and the ongoing need for reliable vehicle insurance protection. The regional distribution of the US car insurance market mirrors the population density and economic activity across the nation. While precise regional breakdowns are not provided, it can be reasonably inferred that states with larger populations and higher vehicle ownership rates, such as California, Texas, and Florida, constitute significant portions of the overall market. The market's segmentation by distribution channels reflects the evolving preferences of consumers and the strategies employed by insurance providers. The rise of online platforms and digital insurance brokers is gradually challenging the dominance of traditional agents, leading to greater competition and potentially lower prices for consumers. However, the personal interaction offered by agents remains a valuable service for many policyholders. Future growth will depend on factors such as economic fluctuations, evolving regulatory landscapes, and technological innovation within the insurance industry. Understanding these dynamics is crucial for both insurers and consumers navigating this significant and dynamic market. Recent developments include: August 2023: AXA S.A. introduced its latest digital claims solution, STeP, which simplifies the car insurance process., May 2022: GEICO partnered with Tractable, an AI technology company, to accelerate its car claim and repair process. The AI is used to assess car damage.. Key drivers for this market are: Rising Number of Accidents Drives The Market, An increase in Road Traffic Accidents Drives The Market. Potential restraints include: Rising Number of Accidents Drives The Market, An increase in Road Traffic Accidents Drives The Market. Notable trends are: Rise In Number Of Traffic Accidents.

Transportation Spending by Income Quintile and Vehicle Ownership. Looking at number of vehicles per household by income quintile; percent of households with no vehicle by income quintile; transportation spend by households with no vehicles; and transportation spend by households with at least one vehicle.

US Car Bumper Guard Market size was valued at USD 1.5 Billion in 2024 and is projected to reach USD 5.3 Billion by 2032, growing at a CAGR of 8% from 2025 to 2032.

Key Market Drivers: Rising Vehicle Ownership and Urban Parking Challenges: According to the U.S. Department of Transportation's Federal Highway Administration, the number of registered automobiles will reach 284 million in 2023, up 5.2% from 2021. According to the US Department of Energy, parking-related incidents in metropolitan areas increased by 23% between 2021 and 2023. The National Highway Traffic Safety Administration (NHTSA) reports that minor parking collisions account for 32% of all reported vehicle damage occurrences, increasing demand for protective equipment such as bumper guards.

Increasing Consumer Focus on Vehicle Protection and Resale Value: According to the Bureau of Labor Statistics, the average cost of car ownership will rise by 14.3% in 2023, with repair costs increasing by 19.8%. According to the National Automobile Dealers Association (NADA), vehicles with well-maintained exterior protection equipment have a 15-20% higher resale value. According to the Insurance Institute for Highway Safety (IIHS), bumper-related repairs will cost an average of $3,500 per occurrence in 2023, highlighting the need for preventive measures like protective accessories.

This statistic represents the results of a 2018 survey of U.S. and Canadian respondents asking which changes in transportation would need to occur for them to give up owning a car. According to the survey, some ** percent of Canadian respondents said they would need more walking paths or better crosswalks to give up owning a car.

Total vehicle registration counts per month by county