North America Automotive Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Motorcycles/Scooters), By Sales Channel (Original Equipment Manufacturers, Authorized Dealerships, Independent Dealers, and Online Platforms), and North America, Automotive Market Insights, Industry Trend, Forecasts to 2035

North America Automotive Market Insights Forecasts to 2035

• The North America Automotive Market Size Was Estimated at USD 874.9 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 3.36% from 2025 to 2035
• The North America Automotive Market Size is Expected to Reach USD 1258.2 Billion by 2035

According to a research report published by Spherical Insights & Consulting, the North America Automotive market is anticipated to reach USD 1258.2 billion by 2035, growing at a CAGR of 3.36% from 2025 to 2035. The automobile industry's focus has switched toward electric vehicles, which are driving the market, as a result of a growing focus on lowering vehicle emissions.

Market Overview

The manufacture, sale, and distribution of automobiles in the US, Canada, and Mexico are all included in the North America automotive market. Technology developments, changing customer preferences, regulatory rules, and large manufacturers are its main drivers. Electric mobility, commercial vehicles, and passenger cars are important market categories. Sustainability trends, supply chain advancements, and trade agreements are all included in North America automotive market dynamics. Growth is further shaped by innovations in connection and autonomous driving. The popularity of electric cars and rising customer demand for cutting-edge automotive solutions are two opportunities for growth. One of the main factors propelling the North America automotive market is rising consumer demand for electric vehicles (EVs) and environmentally friendly mobility options. Constant improvements in automotive technology, the growing popularity of electric vehicles, stricter emission standards, growing consumer demands for better vehicle performance, and economic expansion are all contributing factors to the North America automotive market.  

Report Coverage

This research report categorizes the market for North America automotive market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America automotive market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America automotive market.

Driving Factors

The rise of ride-sharing and car-sharing services offers the automotive industry new business models and revenue streams to explore. The luxury and premium car sectors are where safety innovations are first introduced, and this rise in sales propels the North America automotive market. Electric cars (EVs) are becoming increasingly popular in the automotive industry due to government incentives and growing customer awareness of their ecological effects. The quick development of connected cars and autonomous driving technology is another major factor pushing the North America automotive market.

Restraining Factors

Supply chain disruptions, fluctuating raw material costs, strict environmental laws, labor shortages, difficulties adjusting to new technologies, trade uncertainty, and changing consumer tastes that impact demand are some of the factors restricting the North America automotive market.

Market Segmentation

The North America automotive market share is classified into vehicle type and sales channel.

• The light commercial vehicles segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.

The North America automotive market is segmented by vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles, and motorcycles/scooters. Among these, the light commercial vehicles segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Light commercial vehicles, such as pickup trucks and vans, are crucial for transportation and logistics due to their adaptability. The expanding e-commerce industry and the need for effective delivery options are the main drivers of LCVs.

• The authorized dealerships segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The North America automotive market is segmented by sales channel into original equipment manufacturers, authorized dealerships, independent dealers, and online platforms. Among these, the authorized dealerships segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Authorized dealerships offer customers a reliable setting in which to buy new cars, frequently with financing choices and manufacturer warranties.    

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America automotive market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• General Motors
• Ford Motor Company
• BMW AG
• Tesla Inc.
• Stellantis NV
• Fiat Chrysler Automobiles (FCA)
• Toyota Motor.
• Others

Recent Developments:

• In January 2025, Honda announced that it intends to expand its EV market share by delivering an electric vehicle in North America by 2026 that costs less than USD 30,000. As part of the "Honda 0 Series," the Honda 0 SUV and Saloon, which were introduced at CES 2025, would be produced in Ohio.
• In August 2023, the recently launched Model S Plaid from Tesla, Inc. has a tri-motor configuration that produces more than 1,020 horsepower, enabling it to sprint from 0 to 60 miles per hour in just 1.98 seconds. With cutting-edge technologies including a 17-inch infotainment display and a number of driver assistance systems, it is expected to have a range of more than 390 miles on a single charge. 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the North America automotive market based on the below-mentioned segments:

North America Automotive Market, By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Motorcycles/Scooters

North America Automotive Market, By Sales Channel

• Original Equipment Manufacturers
• Authorized Dealerships
• Independent Dealers
• Online Platforms