Second Quarter 2024 Page 3 8.8% 8.0% 7.2% 6.0% 5.7% 5.1% 5.1% 4.9% 4.8% 4.2% 3.6% 3.4% 3.2% 1.5% 0.9% 0.4% 0.1% -0.3% -1.2% -7.0% KEY TRENDS IN ARKANSAS NEW VEHICLE MARKET Market Share by Type of Vehicle Combining the blue and orange sections in the graph above corresponds to the standard industry definition of light trucks. Small crossovers are broken out, however, since many are more similar to compact hatchbacks than to trucks. Light truck share (excluding small CUVs) was 68.2% so far this year, above the 56.6% share in the U.S. Data sourced from Experian Automotive. Domestic brand market share (which includes Tesla and Rivian) in the state was higher than U.S. levels: 48.3% vs. 38.8%. State Japanese brand share was 34.5% in the first half of this year. Korean brands accounted for a higher share of the state market than in the Nation. Data sourced from Experian Automotive. VEHICLE AND BRAND SEGMENTS - State AND U.S. (YTD ‘24 thru June) Domestic, European, Japanese, & Korean Brand Share COMPARISON OF STATE MARKETS Percent Change in New Retail Light Vehicle Registrations - YTD 2024 thru June vs. YTD 2023 Data sourced from Experian Automotive. 68.2% 56.6% 17.3% 24.7% 14.5% 18.7% 0.0% 25.0% 50.0% 75.0% 100.0% State U.S. Light trucks (excl. Small CUVs) Small CUVs Passenger Cars 48.3% 38.8% 34.5% 39.9% 11.9% 10.9% 5.3% 10.4% 0.0% 25.0% 50.0% 75.0% 100.0% State U.S. Domestic Japanese Korean European Observations and Key Facts • Arkansas registrations increased 1.5% in the first half of this year, below the average for other markets. The Oregon market improved by 8.8%. • BEV market share in Arkansas was just 1.7% vs. 8.5% in the Nation. BEV penetration was highest in California- 23.1% • Ford was the best-selling brand in the state during the first six months of this year. Arkansas was the only state where Ford was the leader.
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