Car Industry Analysis

In 2022, the auto market is looking to recover – albeit slowly – with new vehicle sales growing at rates comparable to 2021. While analysts expect the sector to catch up to pre-pandemic levels in 2023 and beyond, many automakers will still struggle to satisfy recovering demand in the current market.

The total value of the US car and automobile manufacturing market is $100.9 billion in 2022. 9.2 million US vehicles were produced in 2021. The US produced 8.8 million vehicles in 2020, a 19% drop from 2019.

Automotive industry outlook key takeaways The rising cost of vehicles will be a continuing trend as the industry moves to more expensive electric vehicles. We expect suppliers will experience sustained growth opportunities for the foreseeable future.