by Risk calculated on 05/21/2023 09:54:00
The first graph below shows the composition of sales since 1976 (blue corresponds to cars, red to light trucks and SUVs) until April 2023.
Click on the graphic to enlarge the image.
The mix has changed dramatically. In 1976, most light vehicles were passenger cars – however, passenger car sales tended to decline over time.
Note that the sharp declines in sales are linked to economic recessions (early 1980s, early 1990s, the Great Recession of 2007 to mid-2009, and the pandemic in 2020).
The second graph shows the percentage of light vehicle sales between passenger cars and trucks/SUVs.
Over time, the mix evolved into more and more light trucks and SUVs. It is only when oil prices are high that the trend slows down or reverses.
Electric vehicles may have an impact on the mix.