The share of passenger cars in the total road motor vehicles in the US has been on a declining trend from 2023 through 2028. In 2023, it stood at 41.05%. Forecasts indicate a year-over-year decrease of approximately 1.66% from 2024 to 2028. Over this period, the compound annual growth rate (CAGR) is around -2.05%. This decline suggests a shift in consumer preferences, perhaps towards larger vehicles such as trucks and SUVs.
Future trends to watch for include the impact of electric vehicle adoption, which could alter the mix of road vehicles significantly. Additionally, urbanization trends and regulatory changes promoting fuel efficiency could influence the share of passenger cars.
