Automobile & Light Duty Motor Vehicle Manufacturing in the US - Industry Market Research Report

Stopping short: The rising popularity of electric vehicles is detrimental to the industry

Automobile and light duty motor vehicle manufacturers have contended with many challenges in recent years. The industry was already dealing with waning demand when the pandemic struck, resulting in lockdown orders and economic struggles. This drastically reduced the appeal of buying an automobile and consumers' ability to do so, resulting in steep revenue declines. The industry continued to struggle well past the end of pandemic-related disruptions, as the period of low wear stretched vehicles' life spans while low supply kept fuel prices high. The healing of international trade contributed greatly to manufacturers' stabilization, as they were able to again capitalize on strong demand abroad. Altogether, industry revenue has been falling at a CAGR of 2.9% to $326.6 billion, despite an expected increase of 2.9% in 2023 alone.

This industry comprises establishments primarily engaged in manufacturing complete automobile and light duty motor vehicles (i.e., body and chassis or unibody) or manufacturing chassis only. In other words, this industry covers all motor vehicle manufacturing except the manufacturing of medium to heavy trucks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.