Updated on
Reviewed by Steve Rogers
Want to know the current state of the automotive industry in the US? Here are the latest stats on the US car market, including sales volume, best-selling brands, average transaction price, and more.
Let’s dive right in.
Key Findings
- Around 13.74 million cars and light trucks were sold in the US in 2022.
- US auto sales volume reached 2.13 million units in January-February 2023, with a forecasted 14.8 million in 2023.
- The US car buyer pays an average of $49,468 for a new car.
- Trucks accounted for 79.24% of all auto sales in the US in early 2023.
- Electric vehicles reached 8% of all new vehicles sold in the US in January 2023.
- 762,883 fully electric vehicles were sold in the US in 2022.
New Car Sales
According to S&P Global Mobility, US light vehicle sales volume from January 2023 to February 2023 reached 2.13 million units. Industry forecasts suggest a range from 14.1 million to 15 million vehicles in 2023 US auto sales[1].
US auto sales volume in 2022 hit 13.74 million units, the lowest since 2012, with sales constrained by rising prices and high interest rates[2].
Note: The table above contains data for passenger cars and light trucks from multiple sources and may not be comparable between some years due to differences in methodology. Sales volume may contain leases. Data for 2023 are forecasts.
Most Popular Car Brands
Based on Motor Intelligence estimates, Ford (289,480 units), Toyota (252,281), and Chevrolet (239,191) led the ranking of most popular car brands by sales in the US in early 2023 (from January to February)[3].Â
When broken down by category, light truck sales dominated auto sales in the US, accounting for a 79.24% share in January – February 2023.
🛻 Here’s the full auto sales ranking by brand in the US in 2023 (January – February):
| Brand | Car sales volume | Truck sales volume | All, Jan – Feb 2023 |
|---|---|---|---|
| Ford | 8,981 | 280,499 | 289,480 |
| Toyota | 76,258 | 176,023 | 252,281 |
| Chevrolet | 29,782 | 209,409 | 239,191 |
| Honda | 54,371 | 93,494 | 147,865 |
| Nissan | 34,483 | 88,660 | 123,143 |
| Tesla | 45,680 | 68,520 | 114,200 |
| Kia | 32,806 | 80,036 | 112,842 |
| Hyundai | 28,238 | 80,807 | 109,045 |
| Jeep | 0 | 98,013 | 98,013 |
| Subaru | 32,663 | 57,500 | 90,163 |
| GMC | 0 | 84,504 | 84,504 |
| Ram | 0 | 80,598 | 80,598 |
| Mazda | 5,930 | 47,676 | 53,606 |
| Mercedes-Benz | 15,520 | 34,664 | 50,184 |
| BMW | 20,033 | 27,906 | 47,939 |
| Volkswagen | 3,742 | 38,829 | 42,571 |
| Lexus | 9,147 | 32,446 | 41,593 |
| Audi | 12,042 | 21,564 | 33,606 |
| Dodge | 20,548 | 9,693 | 30,241 |
| Buick | 0 | 22,963 | 22,963 |
| Cadillac | 4,843 | 17,149 | 21,992 |
| Acura | 6,811 | 13,085 | 19,896 |
| Chrysler | 1713 | 16,264 | 17,977 |
| Volvo | 1160 | 15,093 | 16,253 |
| Porsche | 4,496 | 9,775 | 14,271 |
| Mitsubishi | 2,293 | 10,554 | 12,847 |
| Lincoln | 0 | 11,967 | 11,967 |
| Land Rover | 0 | 11,746 | 11,746 |
| Infiniti | 932 | 8,569 | 9,501 |
| Genesis | 2,202 | 5,911 | 8,113 |
| Rivian | 0 | 5,139 | 5,139 |
| MINI | 2,688 | 1523 | 4,211 |
| Polestar | 2,025 | 0 | 2,025 |
| Jaguar | 221 | 1360 | 1581 |
| Alfa Romeo | 569 | 838 | 1407 |
| Maserati | 249 | 933 | 1182 |
| Lucid | 848 | 0 | 848 |
| Bentley | 351 | 264 | 615 |
| Ferrari | 439 | 0 | 439 |
| Lamborghini | 157 | 247 | 404 |
| Rolls Royce | 108 | 121 | 229 |
| Fiat | 2 | 70 | 72 |
| Karma | 6 | 0 | 6 |
| Total | 462,337 | 1,764,412 | 2,226,749 |
Based on complete 2022 sales data, the same 3 leading car makers (Ford, Toyota, Chevrolet) topped the ranking of most popular car brands in the US with 5.03 million sold units across 3 brands in the US alone[4].
A total of 12 car brands (incl. Honda, Hyundai, Jeep, Nissan, among others) hit a milestone of over a half million sold units each in 2022 in the US[5].
Best-Selling Cars
Trucks by Ford (653,957 units), Chevrolet (513,354), and Ram (468,344) took 3 top places among best-selling car models in the US in 2022[6].
A total of 14 cars sold over 200,000 units each in 2022.
Here’s a complete list of best-selling cars in the US based on 2022 data:
Average Price of a New Vehicle Sold
According to Kelley Blue Book, $48,763 was the average transaction price for a new vehicle across all segments in the US in February 2023, a slight decrease from $49,468 in January 2023[7].
When considering only the non-luxury vehicles category, the car buyer in the US paid $44,697 for a new vehicle in the US in February 2023; among luxury buyers, that was $65,534 in the same month. Nearly 2-in-10 (19.5%) vehicles sold in the US in February 2023 accounted for the luxury segment.
The average transaction price for a new electric vehicle sold in the US reached $58,385 in February 2023[8].
EV Sales Volume
Based on CleanTechnica estimates, 762,883 units of battery electric vehicles were sold in the US in 2022, accounting for 5.7% of all auto sales in the country[9].Â
Sales of fully electric vehicles in the US in 2022 increased by 3.1x over 2020. Based on S&P Global estimates, battery electric vehicles reached 8% market share in the US in January-February 2023[1].
Most Popular EV Models
The electric vehicle market in the US is dominated by Tesla (with Model Y and Model 3 as its top two best-selling cars), with a 66.86% market share among electric vehicles sold in the US in 2022, accounting for 510,058 units[9].Â
The most popular non-Tesla EV models were the Ford Mustang Mach-E (39,458 units sold) and the Chevy Bolt (38,120 units sold).Â
The content on finmasters.com is for educational and informational purposes only and should not be construed as professional financial advice. Finmasters is not a financial institution and does not provide any financial products or services. We strive to provide up-to-date information but make no warranties regarding the accuracy of our information.
