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U.S. Automobile Exports Soar, Business and Industry Trends Analysis

America’s new car dealers saw 15.5 million units sold in 2023, compared to 13.7 million in 2022 and14.9 million units in 2021. This is down from the peak of 17.6 million units in 2016 according to the National Automobile Dealers Association (NADA). In addition, U.S. automobile exports have been strong in recent years, reaching an all-time high in 2023 of $163.5 billion, compared to $136.1 billion in 2022 and $122.8 billion in 2021.

Meanwhile, manufacturers in the U.S. and globally are faced with redesigning and retooling for what is forecast to be a booming long-term market for electric vehicles (EVs). The supply chain issues in EVs are very challenging, as massive investment is required in new battery plants and the manufacture of the special electrical controls and systems required for EVs.

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