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Thursday, 21 January 2021 19:08

Edmunds Experts Forecast 15.5 Million New Vehicles Will Be Sold in 2021

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...a brand-new segment in EV pickup trucks, at least seven new electrified SUVs, and some popular off-road nameplate revivals including the Ford Bronco and Jeep Wagoneer.


"It comes down to production cycles and a little bit of luck, but every so often there's a truly exciting product year for the automotive industry like we're about to witness in 2021," said Caldwell. "Between the GMC Hummer, the Tesla Cybertruck and a debut vehicle from Rivian, the EV pickup truck segment is about to explode and we're going to see even more electrified SUVs enter the market.

 

"And under the new presidential administration, there could be the possibility of new tax credits or incentives for individuals that could finally help move the needle for electric vehicles, which for years have been slow to grow in popularity in the U.S."


Although 2021 is looking to be an exceptional year for the industry from a product standpoint, Edmunds experts note there are a number of uncertainties that could negatively affect sales.


"The chip supply shortage could throw a big wrench in production for automakers, which have only just gotten back into a good groove after shutting down during the pandemic," said Caldwell. "And there is the bigger question about what consumer demand for vehicles is going to look like in a post-vaccine world.

 

"Lots of additional wealth and resources have been pushed into new car purchases for now, but people have been cooped up for nearly a year. They might choose to shift their spending to experiences rather than goods, which could be a threat to car purchases."


More insight into recent auto industry trends can be found in the Edmunds Industry Center.

 

Source: Edmunds

 

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