SCHAUMBURG, Ill. (Dec. 14, 2015) — New vehicle registration volumes for light-duty vehicles in the U.S. topped 17 million during the rolling year from Nov. 1, 2014, through Oct. 31, 2015, according to Experian Automotive.
The research firm noted that this metric hasn't been achieved since 2006, a year marked by a record 17.4 million registrations. The lowest point was during the Great Recession, when volumes dropped to 10.2 million in 2009.
“It's encouraging to see new registrations return to pre-recession levels, with lower interest and higher employment rates driving vehicle demand,” said Brad Smith, Experian's director of automotive market statistics.
While there is now a near-identical volume of vehicles registered, consumer buying habits have changed over the past nine years, according to Experian. For example, crossover utility vehicles account for nearly 24 percent of the market in 2015, up more than 100 percent from 2006.
Mid-range cars account for a 22-percent market share, followed by pickup trucks with a 14.2-percent share.
Experian's research indicated that Ford, Chevrolet, Toyota, Honda and Nissan held the top five spots in market share in 2015, making up 54 percent of the 17 million new vehicle registrations.
The top models were: Ford F-150, Chevrolet Silverado 1500, Toyota Camry, Toyota Corolla, Honda CR-V and Honda Accord.