2014 U.S Automotive Sales Research
In 2014, the U.S. auto industry continued its positive trajectory, with multiple factors converging to support strong sales and a favorable market environment. U.S. auto sales surged past 16.5 million vehicles in 2014, a significant increase from the previous year. This marked the best performance for the industry since the pre-recession days of the early 2000s. The U.S. economy showed signs of increased stability, with unemployment rates falling and consumer confidence growing. These factors, combined with lower gasoline prices and easier access to auto financing, contributed to robust car sales. Reflecting a trend that would continue in subsequent years, SUVs and crossovers became increasingly popular. Lower gas prices and a shift in consumer preference toward larger, more versatile vehicles played roles in this trend. The luxury segment remained competitive with brands like BMW, Mercedes-Benz, and Lexus holding strong positions. However, other luxury brands, such as Audi and Tesla, continued to grow and capture market share. Benefiting from the economic recovery and particularly the resurgence in the housing and construction sectors, sales of pickup trucks and large SUVs saw significant growth. While the market share of purely electric vehicles remained modest, interest in hybrids, plug-in hybrids, and diesel options grew. Manufacturers continued to invest in EV technology and infrastructure.