Edmunds analysts forecast 16.8 million vehicles will be sold in 2018 as the auto industry right-sizes and sets the stage for the future Car-buying platform
SANTA MONICA, Calif., Dec. 18, 2017 /PRNewswire/ — 2018 is looking to be the greenest year yet for the auto market For that’s according to new data from Edmunds. For they are the leading car shopping and information platform. In addition, Edmunds analysts project that overall market share for green vehicles (EVs, plug-ins and traditional hybrids) will reach 4.4 percent in 2018 That’s compared to an estimated 3.2 percent in 2017. Edmunds also predicts sales of plug-in vehicles will double in 2018 as compared to 2017. Thereby outselling traditional hybrids by the end of next year.
Edmunds predicts a total 16.8 million new vehicles will be sold in 2018, which is down from the expected 17.2 million new vehicles in 2017.
While this would be the second straight year of decline for the auto market, sales at that level still represents a healthy position for the industry. Even though green cars will have a big moment in 2018. All when sales volumes will be largely driven by the continued growth in popularity of trucks and SUVs.
Demand
“From a product perspective, many auto brands, particularly in the luxury segment, will be phasing out slow-selling passenger cars. That’s in favor of in-demand small SUVs. And the rise in green car sales is really just a precursor. All to what OEMs have in the works for the autonomous vehicles promised for 2019 and 2020. 2018 will be a year of right-sizing for the present. All the while putting some of the critical building blocks in place for the future.
For more information on the trends that will drive the auto industry in 2018. Please view the Edmunds 2018 Automotive Industry Trends presentation in the Edmunds Industry Center: https://www.edmunds.com/industry-center/analysis/.
Source: Edmunds
Edmunds is the leading car information and shopping platform, helping millions of visitors each month find their perfect car. With products such as Edmunds Your Price, Your Lease and Used+, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at more than 13,000 dealer franchises across the U.S. Edmunds’ in-house team of unbiased car-shopping experts provide industry-leading vehicle reviews and shopping tips. The company also hosts a 20-year-old forums community that connects members to other car shoppers and enthusiasts. The company is regarded as one of America’s best workplaces by Fortune and Great Place to Work. Edmunds is based in Santa Monica, California, and has a satellite office in downtown Detroit, Michigan.
