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24/7 Wall St. Insights
- The U.S. is a key market for many of the world's largest auto manufacturers
- While American car buyers have a wide range of options, some models have proven far more popular than others
- Also : Discover the next Nvidia
Since the onset of the COVID-19 pandemic, new car prices have surged in the United States. According to estimates from Kelley Blue Book , the average transaction price for a new vehicle in July 2024 was $48,401 -- about $10,000 more than in the beginning of 2020. As prices have spiked, Americans are holding onto their vehicles longer than ever before.
A recent study published by S&P Global Mobility found that the average vehicle on American roads is now 12.6 years old -- a record high. Growing reluctance to invest in a new vehicle is also reflected in annual sales data. Even though new vehicle sales ticked up by over 12% in 2023, at 15.5 million, annual sales volume remains well below the all-time high of 17.5 million reported in 2016.
In an increasingly competitive U.S. market, automakers are striving to outdo one another, targeting multiple demographic groups with a variety of vehicles at a wide range of price points -- from pickup trucks and SUVs, to sedans and compact cars. And some companies have been demonstrably more successful than others.
Using data from Edmunds , an automotive information website, 24/7 Wall St. identified the five best-selling vehicles in every state. Rankings are based on state-level sales volume in 2023.
The best-selling vehicle nationwide for 42 consecutive years, the Ford-Series pickup is the most popular vehicle in 21 states, and ranks among the five most popular vehicles in all but six states. Other pickup models with multiple appearances on this list include the Chevrolet Silverado, the Ram, and the Toyota Tacoma. California, Connecticut, and New Jersey are the only states where a pickup truck does not rank among the five best-selling vehicles. (Here is a side by side comparison of the most popular pickups on the market. )
While certain pickup truck models are uniquely popular in the United States, SUVs are by far the best-selling vehicle segment. According to Motor Trend, an auto industry publication, approximately 80% of all new vehicle sales in the U.S. in 2023 were SUVs. Small and midsize SUVS alone -- including EVs -- account for nearly 40% of the 250 vehicles on this list. (Here is a look at the most popular SUV in every state. )
Why It Matters
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Home to 233 million licensed drivers and the largest economy in the world, the United States is a key revenue driver for major auto manufacturers. New vehicle unit sales topped 15.5 million in the U.S. in 2023, more than any other country except China. While lucrative, the U.S. market is also highly competitive -- and Americans have a clear preference for certain makes and models.
Alabama ![https://img.particlenews.com/image.php?url=2nhfNz_0v5OSVNl00](https://img.particlenews.com/image.php?type=thumbnail_580x000&url=2nhfNz_0v5OSVNl00)
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