INDUSTRY
AUTOMOTIVE
The United States has a vast road network spanning over 4 million miles, with more than 75% of the population having access to a vehicle. This widespread accessibility contributes to an automotive industry that generates nearly $2 trillion in revenue, encompassing new and used vehicle sales, parts, and services. The industry is projected to grow at a compound annual growth rate (CAGR) of 10% to 12%, with expectations of surpassing 15 million units.
In the aftermath of the 2020–2022 pandemic, automotive manufacturers continue to address vehicle shortages that disrupted production and supply. The industry also faces ongoing challenges, including persistent supply chain issues, the rapid expansion of electric vehicles (EVs), economic pressures from inflation and interest rates, and the complexities of managing imports.
To navigate these challenges and seize new opportunities, automotive companies are working toward building a sustainable ecosystem centered on connected and electrified vehicles. Oracle Fusion Cloud Applications support this transformation by enabling rapid, continuous innovation. These tools help drive digital growth, enhance mobility services, elevate the customer experience, and attract and retain top talent—empowering businesses to move further, faster.
INDUSTRY
AUTOMOTIVE
The US boasts a road network of over 4 million miles, with over 75% of the US population with access to a vehicle. This results in an almost $2T industry revenue number including new & used vehicles, parts, and services. The US Automotive industry is expected to grow at a CAGR of 10%-12%, hitting over 15 million units. Automotive manufacturers are working through the issue of car shortages brought upon the industry via the pandemic of the 2020-2022 time period. The industry continues to be challenged by such items as:
- Supply chain issues
- Growth in EV
- Inflation and interest rate headwinds
- Imports
Automotive customers can achieve a sustainable automotive ecosystem that delivers connected, electrified vehicles and services through rapid, continuous innovation. Oracle Fusion Cloud Applications can help you drive digital transformation and growth with mobility services that transform the customer experience while attracting—and retaining—top talent to take your business further, faster.
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