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A Tale of Three Industries: A review of registration and migration patterns in the US new vehicle industry

09 May 2022 Tom Libby

Attempting to understand the core, underlying drivers of the US new vehicle industry can be challenging, and for good reason. In the 2021 calendar year in the US, manufacturers marketed 420 models across 46 brands, 33 segments, 10 body styles and three geographic origins* - and this is before taking into consideration engine size, fuel type, and trim levels.

Yet, despite this complexity, by reviewing retail new vehicle registration data and migration patterns, S&P Global Mobility has identified three dominant clusters, or cohorts, within the mainstream sector of the industry. These groupings are substantially larger in retail registration volume and their concentrated migration dynamics than any other clusters.

The purpose of this paper is to identify these three cohorts, describe their characteristics and discuss why it is important to be aware of them.

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Posted 09 May 2022 by Tom Libby, Associate Director Loyalty Solutions and Industry Analysis, Automotive, S&P Global Mobility


This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.

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