![]() ![]() ![]() This was the second-highest amount that was filled out to businesses during government bailouts. The only country ahead of the United States in terms of vehicle production was China, with a massive production total of over 25 million.Īn estimated $82 billion was allocated by the United States Department of Treasury to bail out the auto industry. The United States ranked second in the global automotive market with 9.2 million vehicles produced in 2021. These exports were worth an estimated total of $60 billion. In 2018, 1.8 million new light vehicles and 131,200 medium/heavy trucks were exported from the United States. $114.6 billion in direct foreign investments were put into the United States auto industry in 2018. In the United States, the auto industry is one of the biggest investors in research and development. The United States auto industry represents 3% of the total American GDP.Īdditionally, the auto industry is the United State’s largest exporter and generates more jobs than any other field. Canada imported the most US passengers vehicles in 2021. The number of vehicle exports from the United States increased by 14.3%. In 2021, around 1.6 million passenger cars and light vehicles were exported from the United States. Vehicle sales dropped significantly in 2020, and while 2021 saw a sustainable recovery, sales still declined once again in 2022. The Automotive Industry and The US Economy The US ranks only behind China in total vehicle production. Over 77.6 million vehicles were produced globally in 2020. There are approximately 1.446 billion vehicles registered in the world.Īs a whole, Americans spend $698 billion annually on the combination of automobile loans and insurance. There were 290.8 million registered vehicles in the United States in 2022. In 2022, Americans bought an approximate total of 13.75 million cars.Īs of 2020, 91.5% of households report having access to at least one vehicle. There were 36.2 million used light vehicles sold in the United States in 2022. Over 10.9 million new light trucks and 2.9 million passenger cars were sold in the United States in 2022. US Economy | Jobs | Trends and Predictions | Pandemic | Environmental Impacts The US automobile industry sold an estimated 13.75 million cars and light truck vehicles in 2022įor further analysis, we broke down the data in the following ways: The auto industry accounts for 3% of America’s GDP The revenue of United States motor vehicle and parts dealers was $1.53 trillion as of 2021 The US produced 9.2 million vehicles in 2021, a 4.5% increase from 2020ĩ23,000 Americans work in motor vehicles and parts manufacturing, and 1,251,600 are employed by automobile dealers The total value of the US car and automobile manufacturing market is $104.1 billion in 2023ĩ.2 million US vehicles were produced in 2021 Although the automotive industry took a hit during the pandemic, current trends show that it’s bouncing back unscathed: The auto industry is one of the most massive operations in the United States. Health And Wellness Industry Statistics.US Media And Entertainment Industry Statistics. ![]()
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