Facts About Auto Sales
The average age of passenger vehicles on U.S. roads is 11.6 years, according to IHS Markit, and the average price of a new vehicle is $35,309 according to Kelley Blue Book.
2017 Sales QUICK FACTS
After an unprecedented seven-year growth trend, 2017 saw the fourth-best sales year in U.S. history: 17.1 million units sold.
2017 is the first year-over-year decline since 2009, ending a historic seven year expansion – though sales remained near historical highs.
Light trucks (SUVs, vans, pickups) continue to be popular. Trucks outsold cars for the fifth straight year – jumping nearly 4% to a 64.5% market share, which was led by a record demand for crossover utility vehicles (CUVs) with an all-time high annual penetration of 34.9% in 2017.
After CUVs, pickup trucks were the second best-selling segment, followed closely by small cars. And while pickup trucks gained steam in market share in 2017, small cars lost more than a percent from 2016, as the overall car segment contracted.
Experts believe the U.S. auto industry remains well positioned since demand for new vehicles is expected to remain strong.
Automakers sold over 17 million light vehicles in the U.S. market last year, the fourth highest mark in sales history.