Prepared for Greg R. | Delivered May 4, 2020
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To provide information about the buyers journey, market size, and how COVID-19 has impacted the automotive industry in the U.S. Also, to provide demographics about automotive consumers.
According to IBISWorld, automobile manufacturing in the U.S. has a market size of $
billion as of 2020.
The market size of automobile manufacturing in the U.S. has witnessed a decline of -
% CAGR between 2015 and 2020.
In the U.S., the automobile wholesaling industry has a market size of $
as of 2019. The market size has been declining at a rate of -
% between 2015 and 2020.
Over a third of automotive consumers only visit
before making a purchase.
50% of consumers shop for and buy a car in
less than 30 days
Today, an increasing number of consumers are
shopping for autos
COVID-19 has caused "
in Chinese parts exports, large scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S., according to
Consumers between the ages of 25 and 54 make up
% of all consumers who purchased a new SUV in 2019. Consumers over the age of 65 made up
Results of the Early Findings
Initial research into these topics have revealed that there is abundant information which speaks to the market size, buyers journey, consumer demographics and COVID-19 impacts of the U.S. automobile industry.
Further research can continue collecting insights and digging deeper into each of these areas.