The national movement of passenger cars in the US, measured in trillion vehicle-kilometers, has shown a diverse range of trends from 2013 to the current year, 2024. From 2013 to 2019, there was a consistent upward trend with minimal annual variations, reflecting a steady growth in passenger car movements. However, the COVID-19 pandemic in 2020 caused a significant dip of 16.5%, the most substantial decline observed in the data set. Post-2020, recovery was swift with a notable increase of 15.13% in 2021 and continued growth thereafter.
Looking at the most recent years, 2022 saw a substantial rise of 5.87%, followed by modest growth of 0.56% in 2023. The 2023 current value stands at 4.7815 trillion vehicle-kilometers. Over the past five years, the compound annual growth rate (CAGR) was 0.59%, indicating moderate growth despite pandemic disruptions.
The forecasts indicate a steady increase in movements through 2028, with an anticipated 5-year CAGR of 0.47% and a total forecasted growth rate of 2.35%. This suggests a stabilization and continuation of previous growth trends.
Future trends to watch for include the impact of electric vehicle adoption, advancements in autonomous driving technology, and potential changes in travel behaviors post-pandemic, all of which could significantly influence passenger car movements in the upcoming years.
