MarketResearch.com has announced the addition of three Freedonia Focus Reports forecasting various components of the U.S. motor vehicle industry and its domestic market.
The first includes details on the U.S. retail sales of new motor vehicles. They are forecasted to total 17.1 million units in 2020, down from 17.9 million units in 2015. The newly released report, “Motor Vehicles: United States,” analyzes factors such as the impact of aging of baby boomers and light-vehicle leasing trends on U.S. automotive markets.
As the average age of U.S. drivers increases, the number of total miles driven is expected to fall and negatively impact new car sales. Furthermore, a rise in leased vehicles over the historical period is expected to suppress prices for used vehicles over the forecast period, further constraining demand for new models. At the same time, motor vehicle manufacturers producing in the U.S. are expected to increase output to nearly 13 million units in 2020 on increasing exports, particularly of light-duty trucks and vans. The report on light-, medium- and heavy-duty motor vehicles procured and produced in the U.S. is available here.
In a related report titled “Medium & Heavy-Duty Trucks & Buses: United States,” purchases of new medium- and heavy-duty trucks and buses in the U.S. are expected to total 510,000 units in 2020, representing annual growth of 0.6 percent from levels in 2015. Medium-duty truck demand is projected to increase at an above-average rate – 1 percent annually through 2020 – to 216,000 units. Increased U.S. construction and manufacturing activity will fuel demand for all forms of transport vehicles. To learn more, click here.
For background on the levels of U.S.-produced freight driving demand for transport vehicles, “Manufacturing: United States” breaks out the total output of U.S. durable and nondurable goods industries into 10 key segments. Industries associated with plastic and rubber product manufacturing are expected to grow in output at the fastest rate of all others, at 4.9 percent annually to 2020 in value terms. The U.S. transport equipment industry itself is a leading manufacturing sector producing ground, air and maritime equipment, with shipments from U.S. factories poised to grow 2.6 percent annually to 2020. To learn more about U.S. manufacturing and trends in the key transport equipment sector, click here.
