The gross output of motor vehicle and parts dealers in the US is forecasted to grow consistently from 2024 to 2028, with values increasing from $368.28 billion in 2024 to $401.81 billion in 2028. In 2023, the actual gross output was $360.00 billion. The year-on-year percentage variation from 2024 to 2028 shows steady growth: 2.49% from 2024 to 2025, 2.24% from 2025 to 2026, 2.16% from 2026 to 2027, and 2.06% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period is approximately 2.23%.
Future trends to watch for include advancements in electric vehicle technology, potential changes in regulation affecting emissions and safety standards, and evolving consumer preferences towards sustainable and autonomous vehicles. Additionally, global supply chain disruptions and economic conditions could impact production and sales volumes in this sector.
