Forecast: Household Expenditure on Used Cars and Trucks in the US

The forecast indicates a steady increase in household expenditure on used cars and trucks in the US, rising from $2.22 thousand in 2024 to $2.37 thousand in 2028. This marks a positive trend, building upon the actual data of 2023. The year-on-year growth remains consistent, suggesting a stable market demand.

The compound annual growth rate (CAGR) over the five-year forecast period is indicative of a moderate yet persistent growth pattern.

Future trends to watch include:

• Potential impacts of electric vehicles on the used market.
• Economic factors such as inflation or changes in consumer purchasing power.
• Policy shifts related to vehicle emissions and fuel standards.
• Technological advancements influencing used vehicle desirability.