Long-term sales in North America are not expected to get back to pre-pandemic 2019’s total of 20.2 million units until 2028, as, among other reasons, demand will be negatively impacted by relatively higher prices – further influenced by acceleration in the transition to battery-electric vehicles – and lower replacement rates. The long-term outlook for production is a slightly different story, as increased capacity will boost production back to pre-pandemic levels by 2025.
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North America Market Tracker: Weaker Long-Term Outlook Offsets Stronger 2023
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The Analyst Team
Haig Stoddard
Follow AnalystPrincipal Analyst, Forecast & Markets
Haig has followed the auto industry for over three decades, starting as a reporter and editor for Wards Automotive Reports, then transitioning to an automotive market analyst. He analyzes market trends related to new-vehicle demand, production, and powertrain take-rates, and forecasts vehicle connectivity and automation levels
Haig focuses on tying together demand, vehicle production, and powertrain trends. He also has created and co-created several of the company’s current analytical outputs related to forecasts, plant capacities, product cycle plans, market segmentation, and future vehicle propulsion reports. Currently, he supports the Wards Intelligence database and produces regularly scheduled and custom subscription-based posts tied to North American production, sales analysis, forecasts, and general global market analysis. He also is working on projects to help expand the company’s coverage of future trends by creating vehicle-based forecasts related to factory-installed equipment, such as ADAS and mobility.
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