As of 2024, the forecast indicates a steady increase in the ownership of road motor vehicles in the U.S., measured in units per thousand persons. Ownership is expected to grow year-on-year by an average of approximately 0.6% from 2024 through 2028. This consistent growth suggests a stable demand for motor vehicles in line with previous trends. In 2023, ownership stood at approximately 935 units per thousand persons, setting a baseline for subsequent forecasts.
- Year-on-year growth is expected to average about 0.6% over each of the specified years.
- The Compound Annual Growth Rate (CAGR) over the five-year span from 2024 to 2028 is anticipated to be around 0.6%, suggesting modest yet stable growth in vehicle ownership.
Future trends to watch include potential shifts towards electric and autonomous vehicles due to evolving consumer preferences and regulatory changes. Additionally, advancements in mobility services could impact personal vehicle ownership rates.
