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Automotive Market Trends Report Q1-2024 w/EV Points
06-24-24, 02:32 PM
#1
Instructor
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Automotive Market Trends Report Q1-2024 w/EV Points
** If there is continued interest in this information, I will continue to post as it becomes available. If the consensus is that it's TMI, I will cease the "Information Overload." This would normally be posted in this thread: https://www.clublexus.com/forums/sho...2#post11611702. However, I wanted to do a poll to gauge interest.
EV specifics:
EVs have increased to a total of 3.6M vehicles in operation (VIO), while Hybrids have increased to 8.7M. However, gasoline-powered vehicles continue to grow in volume as EVs have not moved the needle much for vehicles currently on the road (VIO).
EV New retail market share in Q1 is identical to Q1 2023.
** Interesting data on Engines & Power • 6 Cylinder vehicles used to be the most common in the ICE segment. • The new ‘norm’ are powerful 4 Cylinder vehicles. pg-18
Title: Powerpoint Presentation Key Points and Summary- What's on the road? - Vehicle in operation (VIO) categorized by model year, segment, age, and market share - Data covers U.S. light-duty vehicles up to March 31, 2024 - Insights on changes in the new, used, and other vehicle markets - Industry News - Special analysis focused on engine cylinders and power.
Automotive Market Trends Report Q1 Summary
The total number of light-duty VIOs in the U.S. is currently 289.6 million, while there are 339 million vehicles of all types across the U.S. and Canada.
By manufacturer, GM is the light-duty leader of new registrations through Q1 2024. By make, Toyota leads over Ford, and Toyota has three of the top 10 models in New registrations.
The Sweet Spot continues to grow with a volume of 102.4 million.
New registration volumes are slowly increasing to 15.5M (annualized) as dealer supplies continue to increase, and the wild ride has shaken up the top models where we see Tesla’s popular Model 3 falling out of the top 20 models of New Registrations in Q1.
Used vehicle registrations are up compared to Q1 2023 with New vehicle affordability likely part of the push to Used.
EV specifics:
EVs have increased to a total of 3.6M vehicles in operation (VIO), while Hybrids have increased to 8.7M. However, gasoline-powered vehicles continue to grow in volume as EVs have not moved the needle much for vehicles currently on the road (VIO).
EV New retail market share in Q1 is identical to Q1 2023.
** Interesting data on Engines & Power • 6 Cylinder vehicles used to be the most common in the ICE segment. • The new ‘norm’ are powerful 4 Cylinder vehicles. pg-18
Title: Powerpoint Presentation Key Points and Summary- What's on the road? - Vehicle in operation (VIO) categorized by model year, segment, age, and market share - Data covers U.S. light-duty vehicles up to March 31, 2024 - Insights on changes in the new, used, and other vehicle markets - Industry News - Special analysis focused on engine cylinders and power.
Automotive Market Trends Report Q1 Summary
The total number of light-duty VIOs in the U.S. is currently 289.6 million, while there are 339 million vehicles of all types across the U.S. and Canada.
By manufacturer, GM is the light-duty leader of new registrations through Q1 2024. By make, Toyota leads over Ford, and Toyota has three of the top 10 models in New registrations.
The Sweet Spot continues to grow with a volume of 102.4 million.
New registration volumes are slowly increasing to 15.5M (annualized) as dealer supplies continue to increase, and the wild ride has shaken up the top models where we see Tesla’s popular Model 3 falling out of the top 20 models of New Registrations in Q1.
Used vehicle registrations are up compared to Q1 2023 with New vehicle affordability likely part of the push to Used.
The following users liked this post:
swajames (06-24-24)
06-24-24, 06:32 PM
#3
Lexus Fanatic
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lol @ poll options.
06-24-24, 07:04 PM
#4
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