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Sunday, May 21, 2023

The Changing Mix of Light Vehicle Sales

by Calculated Risk on 5/21/2023 09:54:00 AM

The first graph below shows the mix of sales since 1976 (Blue is cars, Red is light trucks and SUVs) through April 2023.

Vehicle Sales
Click on graph for larger image.

The mix has changed significantly. Back in 1976, most light vehicles were passenger cars - however passenger car sales have trended down over time.

Note that the big dips in sales are related to economic recessions (early '80s, early '90s, the Great Recession of 2007 through mid-2009 and the pandemic in 2020).

The second graph shows the percent of light vehicle sales between passenger cars and trucks / SUVs.

Vehicle SalesOver time the mix has changed toward more and more light trucks and SUVs.  Only when oil prices are high, does the trend slow or reverse.

Currently about 80% of light vehicle sales are light trucks or SUVs.

It is possible EVs will have an impact on the mix.