In 2022, about 1.8 million cars were produced in the U.S., an increase of over 13 percent compared with 2021. On the other hand, retail sales of light vehicles in the U.S. decreased year-over-year, reaching approximately 13.8 million units in 2022.
Manufacturers shift towards electric vehiclesAlthough electric vehicles (EVs) accounted for just a small share of all light vehicle sales in the U.S. in 2021, their popularity has grown over the past years. Between 2016 and 2020, sales of plug-in light vehicles in the U.S. grew almost four-fold, reaching some 608,000 sold units in 2021. This surge in sales has made the U.S. the third biggest market for electric vehicles in the world, trailing only Europe and China.
Along with the growing sales, the number of public fast electric vehicle chargers in the U.S. increased substantially as well. In 2021, there were nearly 22,000 charges on the American streets, an increase of more than 600 percent compared with 2016.
With substantial backing from the government, EVs are bound to play a more important role in the future of U.S. mobility, mainly due to EVs’ energy efficiency and low carbon footprint. President Biden’s new target for EVs to account for 50 percent of new car sales by 2030 was generally met with the support of major U.S. car manufacturers. While Ford aims at meeting Biden’s target, General Motors went even further, committing to only manufacture electric vehicles by 2035.
Major U.S. carmakersTraditional U.S. car manufacturers are consolidated into three major brands: Ford, General Motors, and Stellantis. These manufacturers produce a variety of vehicles, including passenger cars and trucks. Most of the models offered by these companies are powered by gasoline or diesel, though these automakers are starting to enter the EV market. Tesla, on the other hand, is an exclusively electric U.S. car manufacturer. Tesla’s Model Y was the best-selling electric vehicle in 2022.
American brands tended to lead the U.S. market with General Motors and Ford consistently ranking amongst the leaders in terms of market share. Japanese-based Toyota and Honda, however, produced the most popular cars and sport-utility vehicles among U.S. consumers in 2022.