Sports Cars - United States

United States

Highlights

Revenue in the Sports Cars market is projected to reach US$20bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.51%, resulting in a projected market volume of US$21bn by 2029.
Sports Cars market unit sales are expected to reach 233.3k vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$86k.
From an international perspective it is shown that the most revenue will be generated United States (US$20bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sports Cars market in United States has been experiencing significant growth in recent years.

Customer preferences: Customers in the United States have a strong affinity for sports cars due to their sleek design, high performance, and prestige. Sports cars are seen as a symbol of luxury and success, and owning one is often considered a status symbol. Additionally, the thrill and excitement of driving a sports car appeals to many enthusiasts who enjoy the adrenaline rush that comes with high-speed driving.

Trends in the market: One of the key trends in the sports cars market in the United States is the increasing demand for electric sports cars. With a growing focus on sustainability and environmental consciousness, many consumers are opting for electric vehicles, and this trend has extended to the sports car segment as well. Electric sports cars offer the same level of performance and excitement as their gasoline-powered counterparts, but with the added benefit of being more environmentally friendly. As a result, several automakers have introduced electric sports car models to cater to this changing consumer preference. Another trend in the market is the rise of luxury sports cars. While sports cars have always been associated with luxury, there has been a shift towards more high-end and exclusive models in recent years. Luxury sports cars offer not only superior performance but also a higher level of comfort, advanced technology features, and exquisite craftsmanship. These cars often come with a hefty price tag, but they cater to a niche market of affluent consumers who are willing to pay a premium for exclusivity and superior driving experience.

Local special circumstances: The United States has a well-developed infrastructure of highways and roads, making it an ideal market for sports cars. The vast open spaces and long stretches of highways provide ample opportunities for sports car owners to enjoy their vehicles to the fullest. Additionally, the United States has a strong car culture, with numerous car clubs, events, and races held throughout the year. This creates a sense of community and camaraderie among sports car enthusiasts, further driving the demand for these vehicles.

Underlying macroeconomic factors: The strong performance of the United States economy has played a significant role in the growth of the sports cars market. With a robust job market, rising disposable incomes, and low-interest rates, consumers have more purchasing power to invest in luxury items such as sports cars. Additionally, favorable financing options and leasing programs offered by automakers have made sports cars more accessible to a wider range of consumers. In conclusion, the Sports Cars market in United States is thriving due to customer preferences for luxury and high-performance vehicles, the increasing demand for electric sports cars, the rise of luxury sports cars, the country's well-developed infrastructure and car culture, and the strong macroeconomic factors driving consumer spending.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).