While supply chain struggles may have put the brakes on new car sales in recent years, 2023 saw the global market roar back to life with a remarkable post-pandemic recovery, posting strong gains across nearly every major market.
Key Takeaways
- In 2023, total new car sales in the United States reached 15.5 million units, marking a 12.4% increase from 2022
- Global new passenger car sales hit 66.8 million units in 2023, up 8.6% year-over-year, driven by post-pandemic recovery
- New light vehicle sales in the US for Q1 2024 totaled 3.7 million units, a 5.1% rise from Q1 2023
- Toyota sold 1,953,426 new vehicles globally in 2023, retaining top spot
- Volkswagen Group global sales 2023: 9.24 million vehicles, down 1.1% YoY
- Hyundai-Kia combined global sales 2023: 7.3 million units, up 6.6%
- Toyota Camry US sales 2023: 290,649 units, down 1.1% YoY
- Ford F-Series US sales 2023: 750,789 trucks, up 0.5%
- Tesla Model Y global deliveries 2023: 1.23 million units, top-selling EV worldwide
- SUVs accounted for 52.5% of US new vehicle sales in 2023, up from 49.8% in 2022
- Pickup trucks represented 20.1% of US new car sales in 2023, with 3.12 million units sold
- Electric vehicles made up 7.6% of US new vehicle sales in 2023, totaling 1.18 million units
- Texas new light vehicle sales 2023: 1.6 million units, up 10.2%
- Florida US new car sales 2023: 1.3 million units, up 8.7%
- New York new vehicle registrations 2023: 650,000 units, down 1.5%
Global new car sales rebounded in 2023, led by strong growth in the US and China.
Brand-Specific Sales
1Toyota sold 1,953,426 new vehicles globally in 2023, retaining top spot
Verified2Volkswagen Group global sales 2023: 9.24 million vehicles, down 1.1% YoY
Verified3Hyundai-Kia combined global sales 2023: 7.3 million units, up 6.6%
Verified4Ford US sales 2023: 2.08 million vehicles, up 7.1%
Directional5Chevrolet US sales 2023: 1.55 million units, down 13.5%
Single source6Tesla global deliveries 2023: 1.81 million vehicles, up 38%
Verified7Honda global sales 2023: 3.91 million units, flat YoY
Verified8Nissan global sales 2023: 3.37 million vehicles, down 12.2%
Verified9BMW Group worldwide sales 2023: 2.55 million vehicles, up 6.4%
Directional10Mercedes-Benz global sales 2023: 2.04 million cars, up 1.5%
Single source11Stellantis global sales 2023: 6.17 million units, down 11.6%
Verified12Subaru US sales 2023: 632,086 vehicles, up 11.7%
Verified13Kia US sales 2023: 781,134 units, up 13%
Verified14Mazda US sales 2023: 336,319 vehicles, down 10.3%
Directional15Volvo Cars global sales 2023: 708,716 cars, up 26%
Single source16Audi global deliveries 2023: 1.90 million vehicles, up 11%
Verified17Porsche worldwide sales 2023: 320,221 vehicles, up 1.9%
Verified18Land Rover global sales 2023: 356,343 vehicles, up 24%
Verified19Ram US sales 2023: 444,926 trucks, down 5.2%
Directional20GMC US sales 2023: 614,489 vehicles, up 5.6%
Single source21Buick US sales 2023: 228,461 units, down 4.3%
Verified22Cadillac US sales 2023: 150,987 vehicles, down 2.8%
VerifiedBrand-Specific Sales Interpretation
While Toyota crowned itself "world's best-selling automaker" for a fourth year with 1.95 million sales, Volkswagen quietly reminded everyone that titles are cute, but selling over 9.2 million vehicles is the real, gargantuan elephant in the room.
Model-Specific Sales
1Toyota Camry US sales 2023: 290,649 units, down 1.1% YoY
Verified2Ford F-Series US sales 2023: 750,789 trucks, up 0.5%
Verified3Tesla Model Y global deliveries 2023: 1.23 million units, top-selling EV worldwide
Verified4Chevrolet Silverado US 2023: 543,319 units, up 0.9%
Directional5Ram Pick-up US 2023: 444,926 units, down 5.2%
Single source6Honda CR-V US 2023: 361,457 SUVs, up 17.5%
Verified7Toyota RAV4 US 2023: 434,943 units, up 8.5%
Verified8Tesla Model 3 US 2023: 189,903 units, down 8.9%
Verified9Jeep Grand Cherokee US 2023: 244,594 units, up 9.6%
Directional10Nissan Rogue US 2023: 271,458 units, up 8.2%
Single source11Honda Civic US 2023: 200,781 units, down 20.5%
Verified12Toyota Corolla US 2023: 121,085 units, down 30.3%
Verified13Ford Explorer US 2023: 227,438 SUVs, up 13.1%
Verified14Chevrolet Equinox US 2023: 172,981 units, down 17.8%
Directional15Hyundai Tucson US 2023: 197,341 SUVs, up 17.4%
Single source16Subaru Outback US 2023: 162,328 wagons, up 7.5%
Verified17GMC Sierra US 2023: 295,737 trucks, up 21.5%
Verified18Kia Sportage US 2023: 148,425 units, up 24.2%
VerifiedModel-Specific Sales Interpretation
While Americans still put their trust in pickups and their embrace of SUVs continues to swell, it seems the trusty sedan is being collectively ghosted, now seen as the automotive equivalent of the awkward third wheel on a road trip.
Overall Market Sales
1In 2023, total new car sales in the United States reached 15.5 million units, marking a 12.4% increase from 2022
Verified2Global new passenger car sales hit 66.8 million units in 2023, up 8.6% year-over-year, driven by post-pandemic recovery
Verified3New light vehicle sales in the US for Q1 2024 totaled 3.7 million units, a 5.1% rise from Q1 2023
Verified4In Europe, new car registrations in 2023 amounted to 10.5 million units, reflecting a 6.4% growth despite economic headwinds
Directional5China's new passenger vehicle sales surged to 26.1 million units in 2023, a 11.7% increase, fueled by domestic demand
Single source6US new car sales in December 2023 were 1.69 million units, up 18% from December 2022
Verified7Worldwide new car sales for 2022 totaled 66.0 million units, down 3.5% from 2021 due to supply chain issues
Verified8In 2024 YTD through May, US light vehicle sales reached 7.0 million units, up 2.3% YoY
Verified9Japan new vehicle sales in 2023 were 4.34 million units, a slight 1.2% decline from 2022
Directional10India's passenger vehicle sales hit 4.1 million units in FY2023-24, growing 8.9% YoY
Single source11Brazil new light vehicle sales in 2023 reached 2.35 million units, up 19.3% from prior year
Verified12Canada new vehicle registrations in 2023 totaled 1.54 million units, a 9.2% increase
Verified13South Korea new car sales for 2023 were 1.76 million units, down 7.8% due to EV competition
Verified14Australia new car sales in 2023 hit 1.22 million units, up 13.6% YoY
Directional15Germany new passenger car registrations in 2023: 2.87 million units, down 0.9%
Single source16France 2023 new car sales: 1.77 million units, up 11.5% from 2022
Verified17UK new car registrations 2023: 1.90 million units, a 17.3% rise
Verified18Mexico new light vehicle sales 2023: 1.35 million units, up 22.6%
Verified19Russia new car sales 2023: 0.85 million units, down 56% due to sanctions
Directional20Turkey 2023 new car sales: 1.01 million units, up 66% YoY
Single source21US new car sales Q2 2024: 3.95 million units, up 1.8% YoY
Verified22Global new car sales forecast for 2024: 88.2 million units, per S&P Global
Verified23EV share of global new car sales in 2023: 18%, up from 14% in 2022
Verified24Average new car transaction price in US 2023: $48,759, up 3.1%
Directional25US new car inventory at end of 2023: 2.91 million units, up 52% YoY
Single source26Dealer new car sales days' supply US Dec 2023: 71 days
VerifiedOverall Market Sales Interpretation
While the world's love affair with the combustion engine gave one last, expensive gasp in 2023, with prices and sales climbing like a confused squirrel on an espresso binge, the real story is that the electric future is now parked in nearly one out of every five driveways globally.
Regional Sales
1Texas new light vehicle sales 2023: 1.6 million units, up 10.2%
Verified2Florida US new car sales 2023: 1.3 million units, up 8.7%
Verified3New York new vehicle registrations 2023: 650,000 units, down 1.5%
Verified4US Midwest region new car sales 2023: 3.2 million units, up 11%
Directional5US South region new vehicle sales 2023: 6.1 million units, up 13.4%
Single source6US West region sales 2023: 3.8 million units, up 9.2%
Verified7US Northeast new car sales 2023: 2.4 million units, up 7.8%
Verified8EU Germany new car sales 2023: 2.87 million units
Verified9EU France 2023: 1.77 million new registrations
Directional10UK England new car sales 2023: 1.5 million units
Single source11China Guangdong province new car sales 2023: 2.1 million units
Verified12Ontario Canada new vehicle sales 2023: 550,000 units
Verified13US Pacific Northwest new EV sales 2023: 120,000 units
Verified14Brazil Sao Paulo state new car sales 2023: 450,000 units
Directional15Australia New South Wales 2023: 320,000 new vehicles
Single source16Mexico Mexico City 2023 new sales: 180,000 units
Verified17Japan Tokyo new car registrations 2023: 450,000 units
VerifiedRegional Sales Interpretation
While Texas and Florida continue their friendly duel for the title of 'most freeway-clogging,' the real national story is that the US South, selling a staggering 6.1 million new vehicles, is basically the rest of the country's very generous, gas-guzzling sugar daddy.
Segment-Specific Sales
1SUVs accounted for 52.5% of US new vehicle sales in 2023, up from 49.8% in 2022
Verified2Pickup trucks represented 20.1% of US new car sales in 2023, with 3.12 million units sold
Verified3Electric vehicles made up 7.6% of US new vehicle sales in 2023, totaling 1.18 million units
Verified4Luxury segment US sales 2023: 1.25 million units, up 14.2% YoY
Directional5Compact cars US sales 2023: 1.8 million units, down 12.3%
Single source6Midsize SUVs US 2023: 2.1 million units, up 9.7%
Verified7Hybrid vehicles US sales 2023: 1.3 million units, up 53% YoY
Verified8Full-size pickups US 2023: 2.0 million units, up 4.5%
Verified9Subcompact SUVs US sales 2023: 850,000 units, down 2.1%
Directional10Sedans US new sales 2023: 1.45 million units, down 18.6%
Single source11Plug-in hybrids US 2023: 148,000 units, up 38%
Verified12Minivans US sales 2023: 165,000 units, down 15.2%
Verified13Performance cars US 2023: 450,000 units, up 8.9%
Verified14Crossover SUVs US 2023: 4.2 million units, up 6.3%
Directional15Diesel vehicles US sales 2023: 120,000 units, down 10.5%
Single source16Sports cars US 2023: 95,000 units, up 12.4%
Verified17California new EV sales 2023: 350,000 units, 25% of total sales
Verified18US California new car sales 2023: 1.8 million units total
VerifiedSegment-Specific Sales Interpretation
The American driver, in a statement as bold as their monthly payment, has decisively voted for the SUV throne while letting hybrids elbow their way to the party and leaving the humble sedan looking as forsaken as a minivan at a tailgate.
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