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.
2016 Sales QUICK FACTS
U.S. sales broke the all-time record in 2016: 17.46 million units sold, a .4% increase over 2015’s 17.39 million.
2016 marks the seventh consecutive year-over-year sales growth, a first in automobile sales history.
Light trucks (SUVs, vans, pickups) continue to be popular. Trucks outsold cars for the fourth straight year – jumping nearly 4% to a 60.6% market share, which was led by a record demand for CUVs with an all-time high annual penetration of 32.2% in 2016.
Small and Middle sized cars were the second and third best selling vehicles, but they also contracted as a percentage of sales in 2016 along with the large car segment.
Experts believe the U.S. auto industry remains well positioned for sales to continue at or near record levels in 2017
Automakers sold over 17 million light vehicles in the U.S. market last year, up .4% from 2015, the highest mark in history and representing an unprecedented seven years of consecutive growth.
Steady, strong sales until 2008 … and now growing again