The Registrations of natural gas vehicles in United States of America attained a value of 17,366.22 Units in 2020
The indicator recorded a historical growth (CAGR) of 2.73% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
Automotive Industry in the United States of America
The value of the US automotive manufacturing industry is expected to grow in 2021, recovering from the sharp decline in production a year earlier due to the COVID-19 pandemic. The industry is set to follow a strong growth trajectory during the forecast period given that the macroeconomic environment will continue to improve. Consumer and business confidence remained depressed since its slump in the advent of the pandemic. With regards to car and motorcycle manufacturing, the cutback in the use of cars following containment measures also reduced consumers’ demand for new vehicles.
The US industry declined in value during the historic period, largely as a result of decreasing demand. Declining demand for US manufactured vehicles in key export destinations, such as Canada and Germany, also impacted the industry negatively. In the long-term, the manufacturers’ shift to electric vehicles is expected to stimulate supply and demand, especially after the urgency of action to achieve net-zero emissions by 2050.
Ford, FCA, GM, Tesla, Honda, Nissan, Volkswagen, BMW, Daimler and Toyota are among the major automakers in the country. Strategic partnerships are a common strategy in this industry as companies share technology and intellectual property and achieve greater economies of scale. Toyota is one industry player that has been open to developing alliances with other companies. The company has previously stated that the principle of such alliances is to ''respect each other's strengths in technological development, production engineering, and sales networks''. The company has alliances with Subaru, Mazda, and Suzuki, with the object of these being to become increasingly competitive and create better cars. In August 2019, Toyota and Suzuki announced that they had deepened their alliance with a Capital Alliance Agreement, to establish a long-term collaboration in new fields including autonomous vehicles.
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