Transformational Growth Opportunities Driving the North American Light Vehicle Sector
LV sales to surpass 19 million by 2025, with EVs accounting for 12% of sales and more than 50 new EV product launches scheduled over the next five years
In 2021, North American light vehicle sales reached 16.8 million and is forecast to surpass 19 million by 2025 growing at a CAGR of 3.3%. While the economy and vehicle sales showed a positive trend in 2022, the Russo-Ukrainian war has affected the global automotive supply chain; component shortages exposed the fragility of the automotive supply chain. Chip shortage is expected to abate during the second half of 2022, helping automakers ramp up production to reduce backlogs and satisfy pent-up demand. The North American automotive market has been shifting away from sedans and hatchbacks and moved toward sport utility vehicles (SUVs) and pickups. This research service is a deep dive into regional sales figures, the key highlights of 2021, and the top trends that will drive the industry in 2022.
GROWTH PIPELINE DIALOG™
Take your first step towards achieving growth-centric solutions with our
Growth Pipeline Dialog™. Speak to our industry experts in a complimentary open discussion that will spark innovative thinking and growth opportunities that will benefit your organization.