The first registrations of new passenger cars in the US are forecasted to decline significantly from 2.8974 million in 2024 to 0.55826 million by 2028. This represents a sharp year-on-year decrease: 20.48% from 2024 to 2025, 25.52% from 2025 to 2026, 33.88% from 2026 to 2027, and 50.78% from 2027 to 2028. The compound annual growth rate (CAGR) for the period 2024 to 2028 is approximately -34.49%.

Future trends to watch for include:

Potential shifts in consumer preference towards electric vehicles and ride-sharing services.
Impact of economic factors and government policies on car ownership.
Technological advancements that could redefine personal transportation.
Environmental regulations influencing the automotive industry dynamics.