$363.9bn
$XX.Xbn
216k
222
$XX.Xbn
Automobile and light duty motor vehicle manufacturers have contended with many challenges through the current period. Significant technological improvements, particularly regarding hybrid and electric vehicles, internal combustion engine fuel efficiency, infotainment development and autonomous driving capabilities, have also spurred global demand from the growing global middle class. Even so, the pandemic led to a monumental slowdown, slashing vehicle demand. Similarly, rampant inflation and climbing interest rates made car buying more expensive, limiting potential growth despite pent-up demand for driving and travel following lockdown restrictions. Overall, revenue has faltered at an expected CAGR of 0.5% to $363.9 billion through the current period, including a 0.1% decline in 2024, where profit reached 6.1%.
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $363.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
General Motors Company | 97,184.1 | 6,944.7 | 7.1 | |
Ford Motor Co | 85,978.4 | 1,726.7 | 2.0 | |
Stellantis N.V. | 39,038.7 | 2,614.4 | 6.7 |
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Industry revenue is measured across several distinct product and services lines, including Cars, Crossovers and SUVs. Cars is the largest segment of the Automobile & Light Duty Motor Vehicle Manufacturing in the US.
CUVs and SUVs dominate domestic markets
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.
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NAICS 33611 - Automobile & Light Duty Motor Vehicle Manufacturing in the US
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Including values and annual change:
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Key data sources in the US include:
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The market size of the Automobile & Light Duty Motor Vehicle Manufacturing in the US industry in United States is $363.9bn in 2024.
There are 222 businesses in the Automobile & Light Duty Motor Vehicle Manufacturing in the US industry in United States, which has grown at a CAGR of 2.3 % between 2019 and 2024.
The market size of the Automobile & Light Duty Motor Vehicle Manufacturing in the US industry in United States has been declining at a CAGR of 0.5 % between 2019 and 2024.
Over the next five years, the Automobile & Light Duty Motor Vehicle Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Automobile & Light Duty Motor Vehicle Manufacturing market in United States are General Motors Company, Ford Motor Co and Stellantis N.V.
Cars and Crossovers are part of the Automobile & Light Duty Motor Vehicle Manufacturing in the US industry.
The company holding the most market share in United States is General Motors Company.
The level of competition is high and increasing in the Automobile & Light Duty Motor Vehicle Manufacturing in the US industry in United States.