Metal on the move: A midyear look at the automotive market
A midyear check of the nation's vehicle market by Experian Automotive shows it to be in generally good shape. While used-vehicle registrations are stagnant, new car and truck sales are expected to hit a record in 2014, Experian predicts. The cars and trucks on the road today have an average age of 11 years, which is fairly lengthy and points to continuing strong new-auto sales ahead.
A quarter-billion vehicles. Americans' love affair with cars and trucks can be summarized in one number: The nation now has 248 million vehicles on the road, or slightly more than one for every adult in the U.S. First-half registrations came to 28.7 million, the same as in the first half of 2013. But among new cars and trucks, sales rose to 8.3 million from 8 million. All that creates a lot of pollution, but hybrids and electrics account for just 1.3 percent of the market.
Pickups everywhere. The most common type of vehicle on the road is the full-size pickup, accounting for 14.9 percent of the total, said Experian. Next come midrange standard cars (11.7 percent), small economy cars (9.2 percent), lower-end midrange cars (8.3 percent) and entry-level CUV or crossover vehicles (5.6 percent). The most popular type of pickup is the Ford F150. In the West, Toyota Camry is number one.
Imports up but GM is tops. Imports account for a solid majority of vehicles on the road and slightly more than half of registrations during the first six months of 2014, at 52 percent. But General Motors has the most cars and trucks in service, with a 25.9-percent share of the U.S. market. Next come Ford, Toyota, Chrysler and Honda. In terms of recent momentum, Toyota, Nissan and, especially, Chrysler have been doing well, Experian said.
Battle at the top. The Ford F150 and Toyota Camry have been duking it out for top model for the past decade, with the pickup currently in the lead with the most first-half registrations. After the F150, the Camry is next, followed by the Honda Accord, the Chevrolet Silverado 1500 and Nissan Altima. Other vehicles with high counts of new registrations include the Toyota Corolla, Honda Civic, Ford Fusion, Honda CR-V and Ford Escape.
