SEMA News—May 2023

MARKET RESEARCH SNAPSHOT

Vehicles in Operation and New Light-Vehicle Sales Update

By Market Research

Share of Light Vehicle Sales in 2022
Market Research

13.7 Million Vehicles Sold in 2022

Around 46% of new vehicle sales in 2022 were CUV models (6.3 million units). However, pickup sales were also strong at 19% (2.6 million units).

Due to supply issues, high interest rates and component shortages, new-vehicle sales in 2022 dipped below 2021 levels at 13.7 million. This is just over a million short of 2021 levels and around 3 million below the levels seen in 2019. Consequently, it’s projected that new light-vehicle sales won’t return to pre-pandemic levels until 2025. Despite slower than expected sales, there are still a lot of light vehicles on the road today—more than 284 million cars and light trucks. CUVs continue to dominate sales and have a large presence on U.S. roads, however pickups also are strong. Despite all the disruption seen over the last year, consumers continue to spend money modifying and accessorizing their vehicles.

Market Research

New vehicle sales in 2022 finished at just over a million units short of 2021. Delays and shortages mean sales should return to pre-pandemic levels by 2025.

Vehicles Currently in Operation
Market Research

There are more than 284 million light vehicles in operation today. CUVs are now the most common vehicle on the road, followed by pickups and midsize/large vehicles.

To learn more about the specialty-equipment and broader automotive industries, download the “Fall 2022 SEMA State of the Industry” report today at www.sema.org/research.

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