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 $37,577 according to Kelley Blue Book.
2018 Sales QUICK FACTS
After an unprecedented seven-year growth trend followed by a slight downturn in 2017, 2018 saw the fourth-best sales year in history: 17.2 million units sold
Sales remained near historic highs, with 2018 notching the fourth best sales year in history after narrowly beating sales in 2017.
Light trucks (SUVs, vans, pickups) continue to be popular. Trucks outsold cars for the sixth straight year – jumping nearly 8%, year-over-year, to a 69.2% market share, which was led by a record demand for crossover utility vehicles (CUVs) with an all-time high annual penetration of 38.7% in 2018.
After CUVs, pickup trucks were the second best-selling segment, followed by small cars. And while pickup trucks gained steam in market share in 2018, small cars lost more than 2% from 2017, 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.