US Car Sales Statistics: Figures, Trends, and Historical Data

The automotive sector is considered the largest manufacturing industry in the United States, and is therefore an essential component of the country's entire economy. It employs more than two million people and invests billions of dollars into research and development each year.

Since the advent of the first automobile in 1925, cars have not only changed the way we commute but also the way we consume. Automobile sales make up a large chunk of the country’s total consumer spending and are considered a key indicator of annual economic growth.

Important US Car Sales Statistics for 2025: Editor’s Choice

• The auto industry accounts for approximately 3% of the total gross domestic product of the United States.
• Ford’s signature F-Series light truck is the all-time best-selling car model in the US.
• Almost 16 million cars were sold in the US in 2024.
• The average price for a new car was $47,465 in 2024.
• EV sales were up 15% in the US in 2024.

Experts say that American auto sales are expected to drop in the near future. These predictions have nothing to do with consumers earning less income or being forced to reduce their spending. They are, in fact, due to vehicles lasting longer.

The latest numbers show that many new vehicles have proven to be more durable than older models and therefore don't need to be replaced as often.

There were 15.97 million new car sales in the US in 2024.

(MarkLines)

This represented an annual growth of 2.2% compared to the year before.

Ford F-Series was the most sold car in the US in 2024.

(Motor1)

Once again, the F-Series cars dominated in sales, with some 765,649 units sold in the US last year.

Toyota RAV4 was the best-selling SUV in America in 2024.

(U.S. News)

The model was also the third best-selling car last year, shipping 475,193 units.

Electric vehicle sales in the US were up 15% in 2024.

(CarEdge)

The market share for EVs remained steady at 8.7%.

Tesla's EV market share dropped to 44% in 2024.

(CarEdge)

By Q4, the market share of the America's leading EV producer dropped once again, going down from 48.2% in the same period in 2023.

The average price of a new car in 2024 was $47,000.

(AP News)

Car prices remained high, up by 27% compared to 2019.

Gas-electric hybrids sales rose by 36% in 2024.

(AP News)

These vehicles saw a sharp increase in popularity, selling more than 1.6 units last year.

Mazda saw an 16% increase in sales in the US in 2024.

(Cox Automotive)

The carmaker has recently shifted its strategy to selling pricier SUVs, and it paid off during the last year.

24% of cars in 2024 were bought through leases in the US.

(Experian)

This represented a 4% increase compared to the year before, as more buyers move into leasing.

Car sales in the US are expected to increase by 3% in 2025.

(Cox Automotive)

The latest forecast projects that some 16.3 million cars will be sold this year.

Used car prices in the US dropped by 5.1% in 2024.

(Iovox)

During the last year, the number of used cars on the market also increased by 4.7%.

3 out of 4 buyers in 2024 were highly satisfied with the car purchase process.

(Cox Automotive)

The technological advancements and industry improvements in the online and in-dealership sales processes drove increased customer satisfaction.

There were 17% more new cars available for purchase in 2024.

(Inc)

Last year saw a significant increase in inventory in dealerships, which has the potential to lead to lower prices in 2025.

The inventory of cars costing $30,000 or less increased by 42% in the US in 2024.

(Cars.com)

This fact will make it easier for potential new car owners in 2025 to find a car under the current high average prices.

The average annual percentage rate (APR) for new vehicles in 2024 was 7.1%.

(Edmunds)

Car loan rates are still much higher than they were in 2019, but have decreased by 0.1% on average compared to 2023.