Sales in Foreign Vehicles Surge
According to publisher Jim Lang of Lang Marketing, foreign cars have doubled in new vehicle sales share in the U.S. over the last 18 years.
In 1996, foreign vehicle sales were 27.1 percent in the U.S., and as of 2014, that number has risen to nearly 55 percent.
The consistent growth of foreign nameplates indicate another leap will take place, Lang said. Foreign nameplates have 66 percent of the new car volume and domestic nameplates have slipped to less than 30 percent.
Domestic nameplate sales are more dependent on light trucks with an increased sale from 59 percent to 68 percent. Even with the rise in sales, there has been a shift in consumers wanting to buy passenger vehicles rather than light trucks, which is hurting domestic sales.
The shift away from pickups could be for a number of reasons, including higher gas prices and mandated mpg requirements, and the shift toward passenger vehicles has added to the momentum in foreign nameplate sales.