While the industry celebrated producing over 10.6 million vehicles in 2023, the engine of American auto manufacturing roared back with significant gains, surprising shifts in production, and a rapid charge toward an electric future.
Key Takeaways
- In 2023, the US motor vehicle manufacturing industry produced 10.6 million light vehicles, marking a 10% increase from 2022
- US automakers assembled 1.2 million passenger cars in Q4 2023, down 5% year-over-year due to supply chain issues
- Truck production in the US reached 2.8 million units in 2023, led by Ford and GM
- The US motor vehicle manufacturing industry employed 950,000 workers in 2023
- Average hourly wage in US motor vehicle manufacturing was $32.50 in 2023, up 4.2% from 2022
- Michigan had 180,000 auto manufacturing jobs in 2023, 19% of national total
- The industry contributed $250 billion to US GDP in 2023
- Total revenue for US motor vehicle manufacturers was $650 billion in 2023
- Profit margin averaged 6.2% for US automakers in 2023
- US light vehicle sales reached 15.5 million units in 2023
- Ford held 13.5% market share in US light vehicles in 2023
- GM's US sales: 2.6 million vehicles in 2023, 16.5% share
- US auto industry CO2 emissions from manufacturing: 120 million metric tons in 2023
- 45% of US auto plants achieved zero-waste to landfill in 2023
- Water usage in US auto manufacturing: 15 billion gallons annually 2023
US auto production rebounded strongly in 2023 while shifting significantly toward trucks and electric vehicles.
Employment and Workforce
1The US motor vehicle manufacturing industry employed 950,000 workers in 2023
Verified2Average hourly wage in US motor vehicle manufacturing was $32.50 in 2023, up 4.2% from 2022
Verified3Michigan had 180,000 auto manufacturing jobs in 2023, 19% of national total
Verified4Union membership rate in US auto manufacturing was 45% in 2023
Directional5In 2023, 120,000 women were employed in US motor vehicle manufacturing, 12.6% of workforce
Single source6Turnover rate in US auto plants was 8.5% in 2023
Verified7250,000 jobs added in auto parts manufacturing since 2021
Verified8Average age of US auto manufacturing workers was 44.2 years in 2023
Verified9Ohio employed 95,000 in motor vehicle manufacturing in 2023
Directional1015% of US auto manufacturing jobs were in R&D and engineering in 2023
Single source11Labor productivity grew 3.1% in motor vehicle manufacturing in 2023
Verified12Kentucky had 68,000 auto jobs in 2023
Verified13Injury rate in US auto manufacturing was 2.8 per 100 workers in 2023
Verified1440,000 new hires in EV-related auto manufacturing jobs in 2023
Directional15Alabama's auto sector employed 50,000 in 2023
Single source16Training hours per worker averaged 120 in US auto plants 2023
Verified17Indiana had 72,000 motor vehicle manufacturing jobs in 2023
Verified18Diversity: 25% minority workers in US auto manufacturing 2023
Verified19Tennessee employed 85,000 in auto manufacturing 2023
Directional20Overtime hours averaged 5 per week in auto plants 2023
Single source21Georgia added 10,000 auto jobs in 2023
Verified22Apprenticeships in auto manufacturing: 15,000 active in 2023
Verified23Texas auto manufacturing employment: 45,000 in 2023
Verified24Part-time workers: 5% of US auto manufacturing workforce 2023
Directional25South Carolina: 38,000 auto jobs in 2023
Single sourceEmployment and Workforce Interpretation
The industry's engine is humming with a nearly million-strong workforce earning higher wages, showing a resilient heartland anchored by unionized veterans in Michigan, though it's cautiously shifting gears toward EVs, an aging workforce, and a welcome, if gradual, infusion of diversity.
Financial Performance
1The industry contributed $250 billion to US GDP in 2023
Verified2Total revenue for US motor vehicle manufacturers was $650 billion in 2023
Verified3Profit margin averaged 6.2% for US automakers in 2023
Verified4R&D spending by US auto industry: $45 billion in 2023
Directional5Capital expenditures totaled $60 billion in 2023 for new plants
Single source6GM's US revenue from manufacturing: $170 billion in 2023
Verified7Ford's operating profit: $10.4 billion in 2023
Verified8Stellantis North America revenue: $95 billion in 2023
Verified9Industry debt levels: $120 billion outstanding in 2023
Directional10Taxes paid by auto manufacturers: $35 billion federal in 2023
Single source11Export value of US vehicles: $55 billion in 2023
Verified12Import costs for parts: $200 billion in 2023
Verified13ROI on EV plant investments: 8% average in 2023
Verified14Cost per vehicle produced: $28,500 in 2023
Directional15Supply chain costs rose 12% to $150 billion in 2023
Single source16Warranty costs: $12 billion industry-wide in 2023
Verified17Cash reserves held by top 5 US automakers: $80 billion in 2023
Verified18Dividends paid: $5 billion by US auto firms in 2023
Verified19Energy costs: $8 billion for US auto plants in 2023
Directional20Insurance premiums: $3.5 billion industry total 2023
Single sourceFinancial Performance Interpretation
The US auto industry is a high-stakes, capital-intensive machine, roaring along on a thin 6.2% profit margin while simultaneously feeding the economy $250 billion, investing $105 billion into its own future, and nervously eyeing its $120 billion debt and $200 billion parts import bill.
Production and Output
1In 2023, the US motor vehicle manufacturing industry produced 10.6 million light vehicles, marking a 10% increase from 2022
Verified2US automakers assembled 1.2 million passenger cars in Q4 2023, down 5% year-over-year due to supply chain issues
Verified3Truck production in the US reached 2.8 million units in 2023, led by Ford and GM
Verified4In 2022, total US vehicle production was 9.2 million units, affected by semiconductor shortages
Directional5Michigan accounted for 25% of US vehicle production in 2023 with 2.65 million units
Single source6US engine production totaled 11.5 million units in 2023, including 4.2 million for light trucks
Verified7In 2023, electric vehicle production in the US hit 1.4 million units, up 40% from prior year
Verified8Parts manufacturing output for motor vehicles reached $450 billion in 2022
Verified9Q1 2024 saw US light truck production at 2.1 million units
Directional10In 2023, GM produced 2.1 million vehicles in the US, highest among OEMs
Single source11Ford's US production was 1.8 million units in 2023, including 600k F-Series trucks
Verified12Stellantis US output was 1.5 million vehicles in 2023
Verified13Toyota US production reached 1.7 million units in 2023
Verified14Honda produced 1.1 million vehicles in the US in 2023
Directional15In 2023, US motor vehicle body and trailer manufacturing output was $120 billion
Single source16Capacity utilization in US motor vehicle manufacturing was 78% in 2023
Verified17US produced 250,000 heavy-duty trucks in 2023
Verified18In 2022, stamping and forging output for vehicles was 15 million tons
Verified19Q3 2023 US SUV production: 1.9 million units
Directional20US axle production totaled 12 million units in 2023
Single source21In 2023, battery production for EVs in US reached 150 GWh capacity
Verified22US transmission production: 9.8 million units in 2023
Verified23Casting production for vehicle parts: 8.5 million tons in 2022
Verified24In 2023, US motor vehicle manufacturing added 50,000 new production jobs
Directional25Plant utilization rate averaged 75% in Midwest US auto plants in 2023
Single source26US produced 1.2 million hybrid vehicles in 2023
Verified27Forging output for engines: 2.1 million tons in 2023
Verified28US chassis assembly: 10.5 million in 2023
Verified29In 2023, US light vehicle production per worker was 12.5 units
DirectionalProduction and Output Interpretation
The American auto industry in 2023 was a tale of robust recovery and electric ambition, though it still occasionally stubbed its toe on the same old supply-chain furniture.
Sales and Market Share
1US light vehicle sales reached 15.5 million units in 2023
Verified2Ford held 13.5% market share in US light vehicles in 2023
Verified3GM's US sales: 2.6 million vehicles in 2023, 16.5% share
Verified4Toyota US sales: 2.2 million units, 14% share in 2023
Directional5Tesla captured 50% of US EV market with 650k sales in 2023
Single source6Pickup truck sales: 2.9 million units in 2023, 19% of total market
Verified7SUV/Crossover sales: 9.1 million, 59% market share in 2023
Verified8Passenger car sales fell to 2.1 million, 13% share in 2023
Verified9Stellantis US sales: 1.5 million vehicles, 9.7% share 2023
Directional10Honda US sales: 1.3 million, 8.4% share in 2023
Single source11Nissan US market share: 6.2% with 900k sales in 2023
Verified12Hyundai-Kia combined 8% share, 1.25 million sales 2023
Verified13EV sales grew to 1.2 million units, 7.6% of total US sales 2023
Verified14Fleet sales: 3.5 million units, 22% of market in 2023
Directional15Retail sales: 12 million light vehicles in 2023
Single source16Average transaction price: $48,200 for new vehicles in 2023
Verified17Incentives spending: $2,500 per vehicle average 2023
Verified18Used vehicle sales: 36 million units in 2023
Verified19Luxury vehicle market share: 12% in 2023
Directional20F-Series Ford sales: 750,000 units, #1 model 2023
Single source21Ram pickup sales: 444,000 in 2023
VerifiedSales and Market Share Interpretation
Ford continues to rule a kingdom where the average citizen pays $48,200 for the privilege of joining a 15.5-million-unit traffic jam that is now 59% SUV, where trucks are the new national bird, sedans are an endangered species, and Tesla, with a mere 650,000 sales, somehow managed to claim half the conversation.
Sustainability and Innovation
1US auto industry CO2 emissions from manufacturing: 120 million metric tons in 2023
Verified245% of US auto plants achieved zero-waste to landfill in 2023
Verified3Water usage in US auto manufacturing: 15 billion gallons annually 2023
Verified4Renewable energy use: 25% of total in auto plants 2023
Directional5EV battery recycling rate: 60% in US 2023
Single source6NOx emissions reduced 20% since 2020 in auto manufacturing
Verified71,200 patents filed for autonomous driving tech by US firms in 2023
Verified8ADAS features in 85% of new US vehicles in 2023
Verified9Hydrogen fuel cell production: 5,000 units in US 2023
Directional10Plant electrification: 30% of US auto facilities by 2023
Single source11Lightweight materials usage up 15% to 40% vehicle weight 2023
Verified12Software-defined vehicles launched: 10 models by US OEMs 2023
Verified13Cybersecurity incidents in auto supply chain: 150 reported 2023
Verified143D printing parts production: 500,000 units saved 20% costs 2023
Directional15Fuel efficiency average: 28.5 mpg for 2023 model year fleet
Single source16VOC emissions from painting: down 25% to 50k tons 2023
Verified17Robot density: 1,500 per 10k workers in US plants 2023
Verified18OTA updates deployed to 10 million US vehicles 2023
Verified19Sustainable sourcing: 70% recycled steel in vehicles 2023
DirectionalSustainability and Innovation Interpretation
This portrait of the US auto industry shows a sector feverishly scrubbing its own engine bay with one hand while furiously sketching a sci-fi novel with the other, making undeniable progress but still wrestling with a legacy of massive resource consumption.
Sources & References
- Reference 1AUTOMOTIVEDIVEautomotivedive.comVisit source
- Reference 2BLSbls.govVisit source
- Reference 3MARKLINESmarklines.comVisit source
- Reference 4ALLIANCEFORAUTOMOTIVEINNOVATIONallianceforautomotiveinnovation.orgVisit source
- Reference 5MICHIGANmichigan.govVisit source
- Reference 6WARDSAUTOwardsauto.comVisit source
- Reference 7IEAiea.orgVisit source
- Reference 8BEAbea.govVisit source
- Reference 9AUTONEWSautonews.comVisit source
- Reference 10MEDIAmedia.gm.comVisit source
- Reference 11SHAREHOLDERshareholder.ford.comVisit source
- Reference 12STELLANTISNORTHAMERICAstellantisnorthamerica.comVisit source
- Reference 13PRESSROOMpressroom.toyota.comVisit source
- Reference 14HONDANEWShondanews.comVisit source
- Reference 15CENSUScensus.govVisit source
- Reference 16FREDfred.stlouisfed.orgVisit source
- Reference 17VDMAvdma.orgVisit source
- Reference 18USITCusitc.govVisit source
- Reference 19SPGLOBALspglobal.comVisit source
- Reference 20OEMOFFHIGHWAYoemoffhighway.comVisit source
- Reference 21ENERGYenergy.govVisit source
- Reference 22MODERNCASTINGmoderncasting.comVisit source
- Reference 23RESILINCresilinc.comVisit source
- Reference 24FORGINGforging.orgVisit source
- Reference 25AUTOMOTIVELOGISTICSautomotivelogistics.mediaVisit source
- Reference 26EPIepi.orgVisit source
- Reference 27DOLdol.govVisit source
- Reference 28SHRMshrm.orgVisit source
- Reference 29NAMnam.orgVisit source
- Reference 30DEVELOPMENTdevelopment.ohio.govVisit source
- Reference 31NSFnsf.govVisit source
- Reference 32CEDced.ky.govVisit source
- Reference 33OSHAosha.govVisit source
- Reference 34MADEINALABAMAmadeinalabama.comVisit source
- Reference 35ATAPatap.orgVisit source
- Reference 36INin.govVisit source
- Reference 37EEOCeeoc.govVisit source
- Reference 38TNtn.govVisit source
- Reference 39GDAgda.georgia.govVisit source
- Reference 40TWCtwc.texas.govVisit source
- Reference 41SCCOMMERCEsccommerce.comVisit source
- Reference 42IBISWORLDibisworld.comVisit source
- Reference 43AAIIaaii.orgVisit source
- Reference 44INVESTORinvestor.gm.comVisit source
- Reference 45STELLANTISstellantis.comVisit source
- Reference 46BONDSONLINEbondsonline.comVisit source
- Reference 47IRSirs.govVisit source
- Reference 48TRADEtrade.govVisit source
- Reference 49MCKINSEYmckinsey.comVisit source
- Reference 50HARVARDharvard.eduVisit source
- Reference 51DELOITTEdeloitte.comVisit source
- Reference 52JDPOWERjdpower.comVisit source
- Reference 53BLOOMBERGbloomberg.comVisit source
- Reference 54NASDAQnasdaq.comVisit source
- Reference 55EIAeia.govVisit source
- Reference 56IIIiii.orgVisit source
- Reference 57GOODCARBADCARgoodcarbadcar.netVisit source
- Reference 58COXAUTOINCcoxautoinc.comVisit source
- Reference 59EDMUNDSedmunds.comVisit source
- Reference 60CARPROcarpro.comVisit source
- Reference 61FCAINCfcainc.comVisit source
- Reference 62USAusa.nissannews.comVisit source
- Reference 63HYUNDAIMOTORGROUPhyundaimotorgroup.comVisit source
- Reference 64EVADOPTIONevadoption.comVisit source
- Reference 65NADAnada.orgVisit source
- Reference 66KBBkbb.comVisit source
- Reference 67BLACKBOOKblackbook.comVisit source
- Reference 68FORDford.comVisit source
- Reference 69RAMTRUCKSramtrucks.comVisit source
- Reference 70EPAepa.govVisit source
- Reference 71EPAepa.orgVisit source
- Reference 72USGSusgs.govVisit source
- Reference 73USPTOuspto.govVisit source
- Reference 74IIHSiihs.orgVisit source
- Reference 75DOEdoe.govVisit source
- Reference 76LIGHTMETALAGElightmetalage.comVisit source
- Reference 77CISAcisa.govVisit source
- Reference 78ADDITIVEMANUFACTURINGadditivemanufacturing.mediaVisit source
- Reference 79IFRifr.orgVisit source
- Reference 80STEELsteel.orgVisit source