USA Full Year 2023: Market up 12.3%, F-Series #1 for 42nd straight year, Tesla Model Y up to #5

The Ford F-Series has been #1 in the U.S. since 1982.

Discover 115 years of U.S. Historical Data here.

The U.S. new light vehicle market recovers faster than expected in 2023 at +12.3% to 15,608,386 units. This is significantly higher than the 14.8 million predicted by analysts at the start of the year. According to Cox Automotive, the new-vehicle market has been supported by growing deliveries, improving supply levels and higher incentives in 2023. However the growth has plateaued towards the end of the year, with the Q4 SAAR (Seasonally adjusted annualised sales rate) at just 15.3 million vs. 15.8 million over Q3. 2024 volumes should grow much slower. According to S&P Global, high interest rates, tight credit conditions and slow-to-recede vehicle prices will constrain demand in 2024. This year, light trucks are up 13.4% to 12,380,961 and 79.3% share vs. 78.5% last year while passenger cars are up 8.1% to 3,227,425 and 20.7% share vs. 21.5% in 2022. Also, for reference BEV sales accounted for 8.1% of the market in December.

In the groups ranking, General Motors (+14.1%) posts a strong result, widening the gap with Toyota Motor (+6.6%) from 150,000 units in 2022 to just under 330,000 this year. Ford Motor (+7%) is also relatively shy in third place at 1.98 million sales. Hyundai-Kia (+12.1%) adds almost 180,000 sales to its 2022 volume and snaps the 4th place off Stellantis (-1.3%), the only group in decline this year as it pursues a strategy of lower volume and higher revenue per sales. American Honda (+33%) is in fantastic shape at #6 but this is balancing out a particularly drab 2022 score where it tanked -32.9% on the year prior. Nissan Motor/Mitsubishi (+18.5%) is solid at #7 with the VW Group (+13.3%) matching the market. The BMW Group (+9.3%) is slower.

The Tesla Model Y is up to #5 overall in 2023.

In the brands ranking, Toyota (+4.2%) remains in the lead but significantly trails the market. Its advantage over #2 Ford (+7.5%) continues to thaw, at 29,000 sales this year vs. 82,000 in 2022 and 223,000 in 2021. Chevrolet (+13.1%) is more dynamic and adds almost 200,000 sales to 1.7 million. Honda (+31.9%) is back above the one million annual sales mark at 1.16 million and stays in 4th place. Nissan (+22.2%) is up a fantastic three spots to land at #5 ahead of Hyundai (+10.6%) and Kia (+12.8%) both down one rank to #6 and #7 respectively. Tesla (+33.5%) advances four spots to #8, whereas Jeep (-6.1%) endures the only year-on-year loss in the Top 10 and drops two ranks to #9. Subaru (+13.6%) is down one to #10 while Ram (-1%) loses its spot in the Top 10 to #12. Buick (+61.4%), Acura (+42.4%), Infiniti (+40.9%), Volvo (+26.1%), Lexus (+23.8%), Mazda (+23.2%) and Audi (+22.3%) also impress below. Among smaller brands, Rivian (+198.7%) and Lucid (+46%) stand out.

The Ford F-Series (+14.8%) celebrates 42 straight years as the best-selling vehicle in the USA (no interruption since 1982), and 47 consecutive years as the best-selling pickup truck (since 1977). The F-Series extends its lead over the #2, the Chevrolet Silverado (+5.8%) to over 207,000 sales vs. 140,000 last year. The Ram Pickup (-5%) underperforms again but manages to stay in third place, making the podium 100% pickup for the 10th year in a row. The Toyota RAV4 (+8.8%) is now only 10,000 sales below the Ram Pickup, sporting the SUV crown for a 7th straight year. The competition was tough this year though, with the Tesla Model Y (+74.6%) up four spots to #5 overall above 400,000 annual sales. The Honda CR-V (+51.8%) rallies back to #6, upsetting the GMC Sierra (+22.4%).

The Toyota RAV4 is the best-selling SUV for the 7th straight year.

It’s a difficult year for the Toyota Camry (-1.5%) down three ranks to #8 but still by far the best-selling passenger car in the country. This is the 22nd consecutive year it manages this feat and the 26th time in the past 27 years (only interruption by the Honda Accord in 2001). This means 2023 marks the 27th year in a row the best-selling passenger car in the USA is Japanese: the last American sedan to be crowned #1 was the Ford Taurus in 1996. Like last year the Camry is the only passenger car in the Top 11 and one of only 5 in the Top 25, with the Toyota Corolla (+4.6%) the next best placed at #12 ahead of the Tesla Model 3 at #14, Honda Civic at #16 and Honda Accord at #17. The Nissan Rogue (+45.6%) storms back up 7 ranks on 2022 to land inside the Top 10 at #9 while the Jeep Grand Cherokee (+9.5%) stays at #10 and the Toyota Tacoma (-1.1%) leaves the Top 10 at #11. The Toyota Grand Highlander (#91) is the best-selling 2023 launch above the Mazda CX-90 (#124) and Toyota Crown (#163).

Previous year: USA 2022: Weakest market in 11 years (-7.9%), Ford F-Series, Toyota RAV4 and Camry keep segment leads

Two years ago: USA 2021: Toyota ends 90 years of reign by General Motors, Ford F-Series celebrates 40 years on top

Full Q4 2023 Top 15 groups, Top 50 brands and Top 317 models below.

Full Year 2023 Top 15 groups, Top 50 brands and Top 345 models vs. Full Year 2022 figures below.