The State of the Automotive Industry: Insights from Recent Data

August 16, 2022August 16, 2022 Editor

The automotive and auto auction industry is one that is constantly in flux. With new technologies and changing consumer preferences, it can be difficult to keep up with the latest trends.

In this blog post, we will look at some of the most recent data on the automotive market in the United States. We will explore trends in car sales, market shares, and electric/hybrid cars on the road. We will also discuss some of the best auto auctions around, like SCA vehicle auctions.

Number of Cars on the Road

The number of cars on the road in the United States has been steadily increasing recently. In 2016, there were an estimated 264 million passenger vehicles in operation, which is a 0.75% increase from 2015.

This trend continued, with the total number of vehicles in 2021 at 289.5 million. In addition, the distribution of cars among different states also remained relatively stable during this period.

Car Sales in Recent Years

Car sales in the United States have been growing as well, albeit at a slower rate than the number of vehicles on the road. In 2016, 17.55 million passenger cars were sold in the US market, which is the peak in the range of 1951-2020. However, sales have been on a downward trend since 2016, with only 12.2 million sold in 2021.

Market Shares

In 2016, 17.5 million vehicles were sold in the United States. About 65% of them were manufactured in the United States. Due to this, the automotive sector is one of the major driving forces behind the US economy.

In 2020, General Motors, Ford, and Chrysler continued to be among the top automobile manufacturers in the United States. In addition, Japanese names such as Toyota and Honda are also on the uptick.

Number of Electric and Hybrid Cars on the Road

As of 2020, there are over a million electric cars on the road in the United States. In 2019 alone, worldwide sales of electric automobiles surpassed 2.1 million units for the first time. The move to this type of futuristic vehicle appears to have no end in sight. According to Edison Electric Institute, electric vehicle stock will exceed 18.7 million by 2030.

Automakers have been introducing more EV models to meet customer demands. The most well-known include BEV and PHEV, which are two types of electric vehicles. A handful of dozens of versions and brands have competed in the market. On the other hand, Tesla is still the most popular among EV sales in the United States, accounting for 78% of the overall market share.

Best Selling Vehicles

Ford F-Series has been the most popular truck in the United States for 42 years. However, it was pushed off the top spots in 2019 and overtaken by Toyota Rav4. It’s also been a good year for Honda CR-V. In general, Japanese automobile companies had a successful year in 2019.

Light-duty vehicles are known for their increased fuel efficiency as well as a wide range of usefulness. This makes them the ideal vehicle for savvy buyers. In fact, according to the chart above, this sort of automobile is extremely popular in the United States, with Toyota RAV4, Honda CR-V, and Nissan Rogue dominating market sales.

SCA Auctions

SCA Auctions is a leading auto auction company located across the United States. SCA offers a wide range of services, including live auctions, online auctions, and a vast selection. SCA has the knowledge and expertise to help you find the right vehicle for your needs. Visit SCA today and see what they can do for you!

Car dealerships are a great place to find the perfect car for you. However, they can be expensive. A better option would be an auto auction like SCA Auctions. SCA has a wide selection of vehicles at prices that are sure to fit your budget. SCA is the perfect place to find your next car!

Manheim

Manheim has been establishing the industry standard for purchasing and selling used cars for over 75 years, starting out as a wholesale vehicle auction business in 1945. As the country’s leading provider of wholesale vehicle solutions to automotive dealerships, banks, car rental companies, and automobile manufacturers, they assist clients in increasing their profits and efficiency in their used vehicle operations.

Bel Air Auto Auctions

The Bel Air Auto Auction in Baltimore, Maryland, is one of the United States’ largest vehicle auctions, with a turnover of over 100,000 cars each year, including consignments from new and used car dealers and private business fleets. Every Thursday, Bel Air Auto Auction hosts ten auction lanes.

The auction is in Belcamp, Maryland, and specializes in automobile repair services, such as floor planning, storage, delivery, internet sales (both personal and commercial), entire vehicle reconditioning, and accreditation. They also assist non-profits by selling donated automobiles for cash to help them fund their programs.

ACV Auctions

ACV Auctions is an online automobile auction company from Buffalo, New York. They provide dealerships with a variety of services, including vehicle remarketing, inventory management, and digital marketing. With over 25 years of expertise, they have access to a multitude of vehicles. In addition, almost everything may be completed online through their platform, and they have the personnel to back it up.

Changing Automotive Trends

The automotive industry is a vital part of the United States economy. It employs millions of Americans and contributes billions of dollars to the GDP. The industry is also constantly evolving, with new technologies and trends always emerging.

SCA Auctions is at the forefront of this industry, offering its customers a wide range of services. So if you’re looking for a new car, SCA is the perfect place to start your search!