Market Trends of United States Automotive Logistics Industry
Electric Vehicle Sector growing in the United States
According to an industry association, approximately 5.7% of US car sales were fully electric in 2022, up from 3.2% in 2021. The battery electric vehicle sales in the region made up just over eight percent of the total plug-in electric vehicle sales worldwide. Tesla continues to dominate the US EV market, with an estimated 302,000 electric vehicles sold in the United States. However, competition is beginning to gain momentum, and manufacturers such as General Motors are continuing to add new EV models into their range of vehicles offered. Chevrolet’s Bolt made it into the list of best-selling electric vehicle models. The model recorded its second-largest sales volume that year, just under its sales—the year the model launched. General Motors intends to sell only zero-emission vehicles by 2035 and was already one of the global plug-in EV market leaders.
While Tesla dominated the plug-in electric vehicle market in the region, it was also followed closely by the Volkswagen Group, whose worldwide electric vehicle sales soared that same year. Overall, manufacturers were looking to increase their research and development expenditure, with electric mobility at the forefront of their investments. This was in part motivated by the US Government’s commitment to zero-emission for half of all vehicle sales by 2030.
Light Vehicles dominating the US Market
In 2022, the auto industry in the United States sold approximately 13.84 million light vehicle units. This figure includes retail sales of about 2.9 million autos and just under 10.9 million light truck units. Light-duty vehicles dominate the US market because they are popular for their utility and better fuel economy, which makes them an economical choice for consumers. With the increase in demand for light commercial vehicles, growth in short-sea volumes between Mexico and the US is being observed, which is forecasted to grow the automotive logistics sector with the signing of the US-Mexico-Canada Agreement (USMCA). According to an industry association, when asked about light vehicle satisfaction, consumers in the United States were most satisfied with Honda, Lexus, and BMW models. Lexus was among the most dependable brands based on the number of problems reported per 100 vehicles.
