-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn.
-
Similar Topics
-
-
By Counterman
New research by the Specialty Equipment Market Association (SEMA) is shedding light on the latest trends and developments in vehicle lifecycles and providing new insights for those who provide parts for accessorizing and modifying the more than 289 million vehicles in the US.
Findings in the new
link hidden, please login to view include: Vehicles are staying on the road longer, a continuing trend. The average U.S. vehicle age is now at 12.6 years, its highest number in over a decade. Passenger cars are now an average of 14 years old (up from 13.6), while light trucks rose slightly to 11.9, from 11.8. Used-car market ticks downward but remains historically high. The average listing price of a used vehicle in the U.S. is $25,251, as of July 2024. Car values have fallen faster than that of light trucks, with the sharpest decrease in overall vehicle value found in EVs (-11%). Stabilization of new vehicle prices offset by continued climb of interest rates. The average new vehicle price sits at $48,644, down slightly from the year prior, and halting a dramatic climb that began in the beginning of 2021. However, interest rates for new and used vehicles continue to hound buyers, remaining significantly higher than those offered in 2021-2022, regardless of loan-term length. Automakers are producing fewer entry-level vehicles. While new vehicle inventory in 2024 has reached a three-and-a-half-year high, small cars and other entry-level vehicles (those priced below $20,000) make up just 0.7% of the market, compared with 7% five years ago. This lack of affordability has a profound impact on younger people, who are historically more price-sensitive than older drivers. Two decades of increasingly dependable vehicles. Since 2003, vehicles have exhibited fewer problems, highlighting a growing reliability that is a boon to consumers. However, recent years have yielded an increase in vehicle issues tied to new technology-based automotive features, including driving assistance and infotainment systems — a trend that could impact future dependability. The nation’s fleet of vehicles is growing. The past year saw the net addition of 3 million more vehicles to the roads, with crossovers (72.7 million) closing the gap with passenger cars (89.2 million) as the dominant segment of the entire fleet. However, compared to 10 years ago, vehicle registrations skew more heavily toward light trucks than cars. The specialty-equipment aftermarket continues to grow — and is expected to keep growing. Specialty equipment retail sales in 2023 surpassed $52.3 billion and are forecasted to grow to more than $57 billion by 2026. The research also reveals trends across four categories of vehicles (Classic, Aged, Core and Modern), highlighting age, popularity, usage and consumer spending habits. For accessorizing, pickups and muscle cars are the top choice for enthusiasts. Meanwhile, vehicles in the Aged category are driving spending for performance products, as a way to refresh their older vehicle. Aftermarket product spending for Modern and Core vehicles was primarily (59% and 54%) on accessory and appearance products, while 43% of spending on Classic vehicles was for performance products.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
-
-
-
By shelitaauto
URL:
link hidden, please login to view Source: Gasgoo
In the second quarter,
link hidden, please login to view’s electric vehicle sales in the United States again surpassed General Motors, ranking second in the U.S. electric vehicle market sales, and is on track to close the gap with Tesla.
Ford Mustang Mach-E; Image source: Ford
In the second quarter of this year, Ford sold 23,957 electric vehicles in the United States, a 61% increase from the same period last year, when total electric vehicle sales were 14,843. Meanwhile, Ford’s sales of hybrid vehicles rose 55 percent year over year. However, sales of internal combustion engine cars were down 5 per cent year on year.
Ford saw double-digit sales growth for several of its electric vehicles. Sales of the Ford F-150 Lightning rose 76.9% to 7,902 units. While new competitors such as the Tesla Cybertruck and the Chevrolet Silverado EV RST have all hit the U.S. market, the Ford F-150 Lightning remained the best-selling electric truck in the U.S. in the first half of the year, with 15,654 units sold.
Second-quarter sales of the Ford Mustang Mach-E were up 46.5% year-over-year to 12,645 units. In the first half of this year, 22,234 units of the Mustang Mach-E were delivered, the best performance ever. Sales of Ford’s E-Transit electric van continued to climb in the second quarter, rising 95.5 percent to 3,410 units from a year earlier.
In the first half of 2024, Ford sold a total of 44,189 electric vehicles in the U.S. market, up 72% from 25,709 in the same period last year.
Ford CEO Jim Farley said the automaker is shifting to smaller, more affordable electric vehicles to close the gap with Tesla and fend off competitors like BYD worldwide. Referring to Americans’ love affair with “larger vehicles,” Farley said smaller electric vehicles are “very important to driving the decarbonisation of American society and the development of electric vehicles.”
Ford’s surge in electric vehicle sales in the US market is enough for it to continue to overtake General Motors. In the United States, GM delivered 21,930 electric vehicles in the second quarter, compared with 38,355 in the first half of 2024.
GM is also ramping up production by introducing new models, with electric models such as the Chevrolet Blazer, Equinox and Silverado coming to the U.S. market. While Tesla did not give specific sales figures by region, its second-quarter electric vehicle sales worldwide exceeded expectations, delivering 443,956 electric vehicles and remaining №1 in the U.S. market.
As competition in the U.S. electric vehicle market intensifies, other competitors, including Hyundai and Kia, also set new EV sales records in the second quarter. Hyundai Motor, for example, set a new sales record with its IONIQ 5 model, which sold 18,728 units in the first half of the year. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are also climbing.
-
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.