In 2023, the new car dealers' sales in the US stood at 1.0113 trillion USD. For the years 2024 through 2028, the forecasted sales values exhibit a steady growth trend. The year-on-year percentage variations are as follows:
- 2024: 2.18%
- 2025: 2.07%
- 2026: 1.98%
- 2027: 1.91%
- 2028: 1.83%
The five-year compound annual growth rate (CAGR) from 2023 to 2028 is 1.99%.
Future trends to watch for include shifts in consumer preferences towards electric vehicles, advancements in autonomous driving technology, and potential disruptions from new market entrants, including digital-only dealerships and subscription-based car ownership models. Policymaking for environmental sustainability and economic fluctuations will also play crucial roles in shaping sales trends over the coming years.
