U.S.: Motor Vehicle Body Market 2024

Motor Vehicle Body Market Size in the U.S.

The U.S. motor vehicle body market dropped slightly to $X in 2022, approximately mirroring the previous year. In general, consumption showed a deep reduction. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Motor Vehicle Body Production in the U.S.

In value terms, motor vehicle body production declined modestly to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Motor vehicle body production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Motor Vehicle Body Exports

Exports from the U.S.

In 2022, after three years of decline, there was decline in overseas shipments of motor vehicle bodies, when their volume decreased by X% to less than X units. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, motor vehicle body exports rose rapidly to $X in 2022. Overall, exports continue to indicate a noticeable downturn. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X units), China (X units) and South Korea (X units) were the main destinations of motor vehicle body exports from the United States, together comprising X% of total exports. Moreover, motor vehicle body exports in Mexico exceeded the figures recorded by the second-largest exporter, China, more than tenfold.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the key foreign market for motor vehicle bodies exports from the United States, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and India (X% per year).

Export Prices by Country

The average motor vehicle body export price stood at less than $X per unit in 2022, flattening at the previous year. Over the period under review, the export price faced a abrupt setback. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Motor Vehicle Body Imports

Imports into the U.S.

After two years of decline, overseas purchases of motor vehicle bodies decreased by X% to less than X units in 2022. Overall, imports showed a strong increase. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, motor vehicle body imports soared to $X in 2022. In general, imports continue to indicate a noticeable shrinkage. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), Spain (X units) and Canada (X units) were the main suppliers of motor vehicle body imports to the United States, together comprising X% of total imports. Mexico, China, the Czech Republic, India and Germany lagged somewhat behind, together comprising a further X%. Moreover, motor vehicle body imports in Japan exceeded the figures recorded by the second-largest supplier, Spain, threefold.

From 2013 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle body suppliers to the United States were Spain ($X), Canada ($X) and Japan ($X), with a combined X% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average motor vehicle body import price amounted to less than $X per unit, leveling off at the previous year. Overall, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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