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Industry Landscape
The US automotive retail industry is currently navigating shifts towards electric vehicles and digital sales. Dealerships are focusing on enhancing customer experience, integrating online and offline sales, and managing supply chain challenges. High interest rates are impacting affordability for some consumers, while strong demand for new models and used cars continues.
Total Assets Under Management (AUM)
Number of new vehicle sales in United States
~Approximately 15.6 million units (2023 estimate)
(12.3% CAGR)
- Growth driven by easing supply chain constraints.
- Increased inventory on dealer lots.
- Strong consumer demand for personal transportation.
Total Addressable Market
1.3 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Personalization
AI and machine learning can analyze customer data to offer highly personalized vehicle recommendations, financing options, and service reminders, enhancing the customer experience from initial inquiry to post-purchase.
Augmented Reality (AR) Showrooms
AR technology can allow customers to virtually explore vehicle models, customize features, and experience driving simulations from home or within the dealership, revolutionizing the car browsing and selection process.
Blockchain for Supply Chain & Ownership
Blockchain can provide transparent and secure tracking of vehicle history, supply chain logistics, and ownership transfers, increasing trust and efficiency in new and used car transactions.
Impactful Policy Frameworks
Inflation Reduction Act (IRA) - EV Tax Credits (2022)
The Inflation Reduction Act of 2022 includes federal tax credits for new and used clean vehicles, with strict requirements on battery component sourcing and vehicle assembly in North America.
This policy directly impacts vehicle affordability and consumer purchasing decisions for eligible Honda EV and hybrid models, making them more attractive.
Federal Trade Commission (FTC) Safeguards Rule Amendments (2023)
The FTC updated its Safeguards Rule, requiring financial institutions, including auto dealerships, to implement more robust information security programs to protect customer data.
Dealerships must invest in enhanced cybersecurity measures to comply, protecting customer data and avoiding potential penalties, which affects operational costs.
Consumer Financial Protection Bureau (CFPB) Action on Auto Loan Servicing (Ongoing)
The CFPB continues to scrutinize and take enforcement actions against auto loan servicers for unfair, deceptive, or abusive practices, emphasizing transparency and consumer protection.
This policy pushes dealerships to ensure transparent and fair financing practices, impacting their lending partnerships and sales processes to prevent consumer complaints and regulatory action.
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