16 Stats for Automotive Companies in 2021
Stats are useful in helping us get a general insight into the market. Check out these useful stats for automotive companies in 2021.
The automotive industry is a strong economic force that influences the way societies behave. Globally, the industry is responsible for the production of 60 million cars and trucks a year and for almost half the world’s consumption of oil. It is also believed to be interconnected with other industries that its fall could lead to a domino effect— which is why between 2008 and 2014, the US government spent $80 billion on bailing out 3 big automakers: General Motors, Chrysler, and Ford.
What is the current state of the automotive industry and what is its projected growth? What adjustments should automotive companies make to adapt to a changing business landscape? Read on to find out more.
According to Statista, global automotive sales are expected to fall from 80 million units in 2017 down to 70 million units in 2021.
China is considered the largest automobile market in terms of sales and production, with around 20 million units in 2020, even though it dropped by around 6%.
By 2030, the global automotive industry is forecast to grow to around 9 trillion U.S. dollars, with new vehicle sales accounting for about 38 percent of this value.
The U.S., Europe, and Japan markets account for 80% of the global automotive sales.
In the next decade, car sales are going to undergo a huge transformation. Battery electric vehicles (BEVs) are going to account for 20% of the global sales. In fact, in the US alone, more than one million plug-in electric vehicles are already roaming the streets.
In California, there’s an estimated 20,285 EV chargers available to the public.
Around 638,600 autonomous-ready vehicles are estimated to be added globally in 2022.
China is expected to lead in the development of driverless and BEV technology.
By 2025, cars with electrified engines will comprise under one-fourth of the global market. Around the same time, pure battery electric vehicles will be at around 7.4% of global car sales.
By 2040, China is forecast to have around 14.5 million autonomous vehicles.
By 2021, automotive digital ad spending is expected to reach $13.29 billion, an increase from around $10.94 billion in 2020.
The automotive industry is also forecast to account for at least 8.1% of overall US digital ad spend.
It is estimated that only 1 out of 3 potential car customers know the exact vehicle they want to purchase. Targeting these buyers with the right message and content can lead to shorter sales cycles.
Automotive leads are estimated to cost around $205.
And 95% of automotive buyers look online before making a purchase.
They also visit an average of 4.2 websites throughout the buying process.
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