HOME › Research Insight › North American Automotive Production Market Expected to Reach 25.70 Million Units by 2018
North American Automotive Production Market Expected to Reach 25.70 Million Units by 2018
The North American automotive market is expected to grow at a CAGR of 7.5% by 2018. The U.S. is identified as the major automotive market and is expected to be the largest market in terms of volume, followed by Mexico, and Canada. This is due to increasing urbanization resulting in rise in vehicle demand and production. Based on the vehicle type and fuel type, the gasoline based passenger vehicle segment is identified to have the largest market share by production.
The automotive market in North America comprises of a number of key players. The major key players in the market are General Motor Group, Ford, and Fiat-Chrysler. These companies account for around 75% of the North American market, whereas the rest of the 25% is occupied by other small/medium players.
General Motors (GM) and Ford are the leading automotive industry in the North American market. GM and Ford are into designing, building, and selling passenger vehicles, LCVs, HCVs and manufacturing their parts globally. The key strengths associated with GM are its strong R&D capabilities, excellent supply and distribution network and its strong presence in the North American market. The company has recently announced launch of its all-aluminum 1 liter 3 cylinder petrol engine which is in competition with the ’EcoTec’ engine from the Ford Company. GM has also started the production of aluminum based trucks which are much lighter and highly fuel efficient. The company is concentrating more on green products like Hybrid Electric Vehicles (HEVs), Electric Vehicles (EVs), and Flexi Fuel vehicles in order to offer new differentiated products under its brand portfolio. On the other hand, Ford Company is strategically planning to deliver products that are more valued by the consumers, development of new products being its top priority. For its business expansion, Ford has announced an increase in the production capacity at its Kentucky Truck plant to meet the growing demand for its F-series Super Duty trucks, investing around $80 million.
North America Vehicle Production: Share, By Companies, 2012
Source: MarketsandMarkets Analysis
North American Automotive Production Outlook to 2018 by Vehicle Type (Passenger Cars, LCV, and HCV), Fuel Type (Gasoline, Diesel, and Others) and Key Country Level Markets (U.S., Canada, and Mexico)
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252