Key Market Indicators
In 2021, American car registrations reached close to 321,000 units, marking a slight increase from the approximately 319,000 units recorded in 2020. This represents a modest 0.6% rise compared to the previous year. However, since 2010, the demand for cars in the United States has seen a significant decline of 45.8% year-over-year. Looking ahead, American car production is projected to decrease sharply. By 2028, production is expected to fall to around 1.3 million units, down from the nearly 2.1 million units anticipated for 2023. This represents a year-on-year compound annual growth rate (CAGR) decline of 7.2%. The trend is consistent with a broader decline in American car supply, which has dropped by 6% annually since 2002.
