US market evolution in Q1-2023 (PC+LUV)
- The US light vehicle market (PC+LUV) suffered a 7.8% drop over the whole 2022 year compared to 2021. However, the monthly figures for this year 2022 highlight a recovery starting in the fall 2022. This recovery continued in early 2023. In the first quarter of 2023, the US market recorded an increase of 10.7% compared to the first quarter of 2022.
- Passenger cars (PCs), including SUVs, saw their sales increase in 2023, while pick-ups (not included in PCs) saw their sales decline. But among light vehicles (PC+LUV), sedans only represent 21% of the US market in the first quarter of 2023 compared to 23% in 2022, while SUVs continue to progress, representing 58% of the US market compared to 55% in 2022. MPVs (minivans) are stable at 2% of the market (only Chrysler and a few Japanese carmakers continue to offer this type of model on the American market). Pick-ups only represent 19% of the US market compared to 20% in 2022.
- If the trend of the US market continues, the year should end with a 10% increase in light vehicle sales, representing a volume of 15.3 million units, compared to 13.9 million in 2022 and 15.1 million in 2021. The peak of registrations in the USA took place during the years 2015-2019 when 17 million units were exceeded annually.
- By carmaker, we note that the GM group has regained its leading position ahead of the Ford group and that the Japanese Toyota has fallen from second place to third (it was first in 2021), while the Stellantis group (mainly the former Chrysler group) is supplanted by the Korean Hyundai-Kia for the first time. Finally, Tesla achieved a good performance by overtaking Volkswagen and Subaru for the first time.