US market: 2014 sales rise by 5.9% to 16.52 million units
FCA, Nissan and Subaru gain market share; Ford, VW and Honda lose market share
2014 sales recover to the pre-recession level despite storm of recalls
The U.S. market was hit by a storm of recalls in 2014. However, the automobile sales increased steadily due to the recovery of U.S. economy, improvement of labor market, and rising consumer sentiments. As a result, sales rose 5.9% year-over-year to 16.52 million vehicles. Sales growth is expected to slow down in 2015, but total industry volume is forecasted to reach around 17 million vehicles.
Significant changes in unit sales and market share by automaker
General Motors (GM) leads sales in 2014 at 2.94 million units (up 5.3% y/y), followed by Ford at 2.47 million units (down 0.6%) and trailed closely by Toyota at 2.37 million units (up 6.2%).
Fiat Chrysler Automobiles (FCA), Nissan and Subaru marked significant increases in their market share. In contrast, Ford, Volkswagen (VW) Group and Honda lost their market shares.
A rush of new model launches by leading automakers continue in 2015
The market growth is likely to slow down in 2015. However, major automakers are planning to launch many all-new models especially in the light duty truck markets.
Related reports: North America Market