Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.7 % over the past five years, to reach an estimated $4.4tr in 2024.
Trends and Insights
Developing economies have driven growth
- Emerging markets represent the largest opportunities for car dealers; burgeoning middle classes and rising economies across developing economies, especially BRICS and ASEAN member nations, have led to increased car ownership and rapidly increasing vehicle expenditure.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Consumer preferences will continue to shift to larger, more luxurious vehicles
- Buyer preferences have rapidly evolved over the past decade, forcing dealers to constantly change inventories and manage risk associated with sunk costs. Light trucks, including SUVs and crossovers, have accounted for a higher share of total revenue each year, driven by torrid growth in developing nations like India and Indonesia. In fact, SUVs have started to replace MPVs in many ASEAN member nations, like the Philippines.
Biggest companies in the Global Car & Automobile Sales
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Penske Automotive Group Inc. | 30,084.4 | N/A | N/A | |
AutoNation Inc. | 25,786.6 | N/A | N/A | |
China Grand Automotive Services Co. Ltd. | 21,488.8 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Passenger cars, Sport utility vehicles and Medium and heavy trucks. Passenger cars is the largest segment of the Global Car & Automobile Sales.
Trends and Insights
Demand for crossover and sport utility vehicles swells as fuel efficiency meets space
- Sport utility vehicles (SUVs) and crossover vehicles (CUVs) are very similar. These cars have more space for occupants and luggage than passenger sedans and raised ground clearance. SUVs often use a purpose-built chassis for rugged terrain, while CUVs share a chassis with smaller, lighter passenger vehicles to achieve better fuel efficiency.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
The Global Car and Automobile Sales industry retails new and used motor vehicles mainly through dealerships, commission agents and car auctions. Products sold in this industry include passenger cars, SUVs, light trucks, heavy trucks, buses, recreational vehicles and specialty vehicles, such as ambulances and fire trucks. Retail sales of motorcycles, mopeds and bicycles are not included in this industry.
What's included in this industry?
Passenger carsSport utility vehiclesCrossover utility vehiclesMedium and heavy trucksPickup trucksCommercial vehiclesCompanies
Penske Automotive Group Inc.AutoNation Inc.China Grand Automotive Services Co. Ltd.Purchase this report to view all 4 major companies in this industry.
Related Terms
CASH FOR CLUNKERSSCRAPPAGE PROGRAMSUVPICKUP TRUCKLIGHT COMMERCIAL VEHICLEHEAVY TRUCKS4S STORESHYPERMILINGPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Climbing interest rates and economic uncertainty have posed a major threat to car dealers. Economic volatility has limited car purchases, encouraging many buyers to prefer re...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
SUVs and crossovers (CUVs) have gained popularity across most markets, replacing demand for MPVs and sedans. Pickup trucks remain popular in specific markets, like North Amer...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
China dominates the global car and automobile sales industry. The country’s large population and increasing income levels have bolstered vehicle demand. Other developing econ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Car and automobile dealers must balance price, service and product range to attract buyers. Companies must swiftly adapt to changing consumer preferences and adjust to market...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
No single car dealer dominates global car sales. The massive scale of the industry and high fragmentation prevent companies from gaining ground on a national or international...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Penske Automotive Group Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of AutoNation Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of China Grand Automotive Services Co. Ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Penske Automotive Group Inc., and factors influencing its performance in the industry
- Description and key data for AutoNation Inc., and factors influencing its performance in the industry
- Description and key data for China Grand Automotive Services Co. Ltd., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Licensing, franchising and environmental laws regulate global car and automobile sales. These regulations influence the operation and international sales strategies of automo...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Companies must heavily invest in inventories to appeal to a wide range of consumer preferences. Strong inventory turnover is critical for maintaining healthy returns.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Car & Automobile Sales industry in Global in 2024?
The market size of the Global Car & Automobile Sales industry in Global is $4.4tr in 2024.
How many businesses are there in the Global Car & Automobile Sales industry in 2024?
There are 429k businesses in the Global Car & Automobile Sales industry in Global, which has declined at a CAGR of 0.7 % between 2019 and 2024.
Has the Global Car & Automobile Sales industry in Global grown or declined over the past 5 years?
The market size of the Global Car & Automobile Sales industry in Global has been growing at a CAGR of 0.7 % between 2019 and 2024.
What is the forecast growth of the Global Car & Automobile Sales industry in Global over the next 5 years?
Over the next five years, the Global Car & Automobile Sales industry in Global is expected to grow.
What are the biggest companies in the Global Car & Automobile Sales market in Global?
The biggest companies operating in the Global Car & Automobile Sales market in Global are Penske Automotive Group Inc., AutoNation Inc. and China Grand Automotive Services Co. Ltd.
What does the Global Car & Automobile Sales in Global include?
Passenger cars and Sport utility vehicles are part of the Global Car & Automobile Sales industry.
Which companies have the highest market share in the Global Car & Automobile Sales in Global?
The company holding the most market share in Global is Penske Automotive Group Inc..
How competitive is the Global Car & Automobile Sales industry in Global?
The level of competition is high and steady in the Global Car & Automobile Sales industry in Global.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Global Heavy-Duty Truck Manufacturing
- Global Airlines
Complementors
- Global Tire Manufacturing
- Global Car & Automobile Manufacturing
- Global Auto Parts & Accessories Manufacturing
International industries
- New Car Dealers in the US
- Used Car Dealers in the US
- Online Car Dealers in the US
- Truck Dealers in the US
- Classic Car Dealers in the US
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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