US New Car Sales 4-18-25

Here's a summary of US new car sales by year, including recent trends and key figures: In 2024, US new car sales rose to a five-year high, reaching 15.9 million units, up 2.2% from 2023, with sales boosted by hybrid vehicles. 

Here's a more detailed look at US new car sales by year: 

Recent Trends:

·       2024: US new car sales rose to a five-year high, reaching 15.9 million units, up 2.2% from 2023. 

·       2023: U.S. auto sales reached about 15.5 million units, an 11.6% jump from 13.9 million vehicles sold in 2022. 

·       2022: Sales declined due to supply chain issues and higher prices. 

·       2021: Sales rebounded slightly from 2020's dismal numbers, but were still below pre-pandemic levels. 

·       2020: Sales were significantly impacted by the COVID-19 pandemic. 

·       Pre-Pandemic (2019): Americans bought 17 million cars. 

·       Peak Years (2015-2016): The U.S. auto market hit a record for new cars, with 17.5 million in sales in 2015. Sales the following year were flat then dipped to 17.2 million in 2017 and rebounded in 2018, rising to 17.3 million. 

Key Figures:

·       2024: 15.9 million vehicles sold.

·       2023: 15.5 million vehicles sold.

·       2022: 13.9 million vehicles sold.

·       2021: 15.1 million vehicles sold.

·       2020: 14.6 million vehicles sold.

·       2019: 17.1 million vehicles sold.

·       2018: 17.3 million vehicles sold.

·       2017: 17.2 million vehicles sold.

·       2016: 17.55 million vehicles sold.

·       2015: 17.47 million vehicles sold. 

In 2023, the average selling price for a new light vehicle in the US was around $47,010, and in 2024, it was $48,401, showing a slight decrease from the peak of $49,507 in December 2022. 

Here's a more detailed look at the trends:

2021: The largest increase occurred in 2021, when the average price rose by 14%, from $41,152 to $47,077. 

2022: New light vehicles were about 1.6 percent more expensive in 2023 than in 2022. 

2023: The average selling price for a new light vehicle in the US came to around 47,010 U.S. dollars. 

2024: Prices decreased by 1.5% in 2023 to $48,759 and continued a modest drop to $48,401 in 2024. 

Factors: Supply chain disruptions and heightened demand during the pandemic likely drove the spike in prices in 2021 and 2022. 

Recent Trends: The average transaction price for new cars is $49,740, which is down slightly from the peak of $49,929 in December 2022. 

Electric Vehicles:  The average price paid for a new electric vehicle last month was $55,353, with EV prices falling 10.8% compared to year-ago numbers.

In 2023, approximately 78% of the US population, or about 260 million people, were 18 years of age or older. 

Here's a breakdown of the US population by age group: 

·       Under 18: Approximately 22% of the population, or 73.2 million people.

·       18 and over: Approximately 78% of the population, or 260.0 million people.

·       18-44 years: 36%

·       45-64 years: 24.6%

·       65 and over: 17.7%

Comments

The 260 million US population 18 and over are potential auto consumers. Most are buying used cars that cost under $20,000. Most cars look alike.

The US needs new cars that are more affordable. The cheapest new car you can buy in the US for 2025 is the 2025 Nissan Versa, starting at around $18,330.

I bought my first car in 1959 at age 16 from my mom for $100. It was a 1946 Plymouth. Gasoline was 20 cents per gallon. I earned $5 per hour playing 3 band jobs per week in my “Rock Band”.  I made $45 per week. That was $2340 per year. I also worked each Summer and made another $1000.  The US median family income in 1959 was $5,400.

The average cost of a new car in 1959 was around $2,200. Now the average cost of a new car in 2025 is $48,000.

Norb Leahy, Dunwoody GA Tea Party Leader