After a 2.4% increase in 2024, the US market should be stable in 2025
- The US market:
• The passenger car and pickup market grew by 2.4% in 2024 compared to 2023, to 15,954,040 sales. Of this total, pickups represent 2,895,887 units in 2024, or 18.2% of the US market last year, compared to 2,858,985 units in 2023, or an almost identical market share of 18.3%.
• The GM group keeps its first place in the US market in 2024, with a 17% market share (2.7 million vehicles; +4.4%) ahead of the Toyota groups (15% market share; 2.3 million vehicles; +3.7%) and Ford (13% market share; 2 million vehicles; +2.7%). Next come the Hyundai-Kia groups (11% market share) and Honda (9% market share). The Stellantis group, represented at 99% of US sales by the former Chrysler group (Chrysler, Dodge, Jeep, Ram), falls from fifth to sixth place behind Hyundai-Kia and Honda, with 8% market share (1.3 million vehicles; -15.0%).
• BEV sales increased by 5% to just over 1.25 million units, in a market dominated by Tesla, which has almost 50% of this market share, but nevertheless down 8% compared to 2023. Tesla occupies 4% of the US market in 2024, a situation that is almost stable compared to 2023.
• For 2025, Inovev forecasts a stagnation of the market, which would correspond to a transitional period before a possible rebound for the following years, due to a policy that could once again favour thermal vehicles.
- Production:
• Production in the US of passenger cars and pickups is up 6% in 2024 compared to 2023 to 10.8 million units. It is mainly driven by the pick-up category (+9% to 2.7 million units) and SUVs (+9% to 6.1 million units), while sedans are down 6% to 1.7 million units.
• For 2025, American production should continue to grow. The American strategy for several years now has been to localise production on its soil for its own market. Mechanisms such as the IRA (Inflation Reduction Act) have been put in place and others could emerge with the new administration. The effects of this policy should therefore continue and see the volume of imports gradually reduced in favour of local production in the USA.