The output of the wholesale, retail, and repair of motor vehicles and motorcycles sector in the US is anticipated to grow steadily from 2024 to 2028, with projected values rising from $651.01 billion in 2024 to $715.29 billion in 2028. The Compound Annual Growth Rate (CAGR) over this five-year period is around 2.4%, highlighting a gradual positive trend in this industry.

Future trends to watch include:

The adoption of electric vehicles (EVs) and advances in EV infrastructure, which may significantly impact both the sales and service sectors of the industry.
Changes in consumer behavior post-pandemic that could influence new and used vehicle markets.
Technological advancements and digital retail trends reshaping how cars are sold and serviced.
Regulatory impacts, especially regarding emissions and environmental standards, which could drive innovation and shifts within the industry.