US sales volume projected to reach 16.2 million vehicles. Battery electric vehicles projected to continue growth in market share. Global new light vehicle sales in 2025 are expected to rise 1.7% year-over-year, to 89.6 million units, according to a new forecast by S&P Global Mobility. The global auto sector remains focused on managing production and […]
November New Light-Vehicle Sales Exceed Projections
Sales at highest rate since May 2021. Alternatively fueled vehicles nearly 20% of new vehicles sold this year. New light-vehicle sales in November 2024 beat expectations with a monthly SAAR of 16.5 million units, the highest since May 2021 according to the National Automobile Dealers Association (NADA). November’s SAAR also increased 6.7% from November 2023, […]
U.S. Light Vehicle Sales Projected Up 6% in November Compared to Last Year
On an unadjusted volume level, S&P Global Mobility projects November U.S. light vehicle sales to reach 1.31 million units, growth of 6% from the year ago level. This would translate to a seasonally adjusted rate (SAAR) of 15.9 million units, on trend with the 16.0 million unit mark realized in October. “Retail sales are showing […]
U.S. October New-Vehicle Sales Projected to Increase
Consumer spending on vehicles up 11.8% year over year. Total new-vehicle sales for October 2024, including retail and non-retail transactions, are projected to reach 1,327,600, a 2.1% increase from October 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData. October 2024 has 27 selling days, 2 more […]
Electric Vehicle Sales Mark Another Record in Q3
Higher incentives and more choices lead to growth in U.S. EV sales. According to new estimates from Kelley Blue Book, electric vehicle (EV) sales in the U.S. grew by 11% year over year in the third quarter and reached record highs for both volume and market share. According to the latest counts, an estimated 346,3091 […]
September Light Vehicle Sales Rate Up in U.S.
While sales rate improved year-over-year, NADA reduced its full-year sales forecast. New light-vehicle sales in September 2024 totaled a SAAR of 15.8 million units, an increase of 0.5% year-over year, according to the National Automobile Dealers Association (NADA) Market Beat report. Following a strong start to the year in Q1 2024, where raw sales volumes […]
September U.S. Auto Sales Rate Up
While the sales rate was up, unit sales were lower compared to last year due to Labor Day timing. Given a relatively small number of selling days, 23, and with Labor Day volume counted in August, total U.S. auto sales in September are expected to be much lower than the year-ago and month-prior levels, but […]
U.S. Consumers Less Likely to Purchase an EV Than Last Year
An increase in interest for hybrid vehicles, however, shows a new pathway to EV adoption. The fifth iteration of the EY Mobility Consumer Index (MCI), a global survey of almost 20,000 consumers from 28 countries, found that despite record U.S. consumer interest in electric vehicles (EVs) in 2023, only 34% of U.S. consumers intend to […]
New Light Vehicle Sales Rate Lower in August Despite Volume Increasing
The National Automobile Dealers Association (NADA) reported new light-vehicle sales in August totaled a SAAR of 15.1 million units, down 1.1% from August 2023’s 15.3 million. According to Patrick Manzi, NADA Chief Economist, the August 2024 sales calendar included Labor Day weekend this year, which led to a raw sales volume totaling 1.42 million units, […]
International Energy Agency Reports Global EV Sales Expected to Reach 17 Million in 2024
U.S. EV market share could reach one-in-nine new vehicles sold in 2024 and one-in-five by 2030. According to the International Energy Agency (IEA) despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3 cars on the roads in China by 2030 is set to be electric, and almost 1 in […]
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