In the recent past, US president Donald Trump has expressed discontent with the country’s economic system in international trade. According to Donald Trump, the United States has become a global marketplace that imports goods from across the world but exports very few. Among the goods the the United States imports are vehicles. In 2017 the country imported $191.73 billion of new passenger vehicles and light trucks while it exported $57 billion. However, the US fared better in used passenger vehicles exporting $5.3 billion and importing $1 billion. The country further exported $6.2 billion of medium and heavy trucks but imported $14.29 billion. In total, the U.S experienced a negative balance of trade in the automobile sector. The Trans-Pacific Partnership (TPP) is America’s largest trade partner followed by North American Free Trade Agreement (NAFTA) and the EU28.
America's Largest Car Import Partners
Mexico is America's top exporter of new vehicles. In 2017 Mexico exported $46.9 billion of new passenger vehicles. Mexico is both a member of the TPP and NAFTA. The figure represented a sharp rise in Mexican imports compared to $31.4 billion in 2013.
Canada is the second largest vehicle exporter to the US. In 2017 Canada exported $42.4 billion of new vehicles to the US. The imports dropped from 44.8$ in 2016 and $43.3 billion in 2013. Canada is both a member of NAFTA and TPP.
Japan is the third largest exporter of new vehicles to the US. In 2017 Japan exported $39.7 billion of vehicle to the U.S compared to $33.8 billion in 2014. Japan is a member of the TPP but not NAFTA.
Germany is the largest EU exporter of vehicles to the US. The country accounts for about half of EU motor vehicles exports to America. In 2017 Germany exported $20.2 billion of new vehicles to the US a significant drop from a high of $26 billion in 2014.
South Korea is the second largest Asian exporter of motor vehicles to the U.S. In 2017 South Korea exported vehicles worth $15.7 billion compared to $12.1 billion in 2013.
The United Kingdom is EU’s second largest vehicle exporter to the U.S. In 2017 the UK exported $8.5 billion of motor vehicles to the U.S up from $5 billion in 2013.
Italy ($4.7 B), Sweden ($2 B), and Slovakia ($1.99 B) are other major exporters of vehicles to the US. Despite China being America’s largest trading partner, it only managed to export $1.5 billion of motor vehicles to the U.S.
Vehicle Manufacturers by Market Share
General motors control the largest market share of all automobile manufacturers in America. By February 2018 the company controlled 17% of the market. Ford Motor Company ranks second with a market share of 14.8% at the same period. Toyota USA ranks third with 14% while Chrysler ranks fourth with 12.5% followed by American Honda Motor Co with 8.9%. The best-selling vehicles in the US were the Ford F-Series (896,764), Chevrolet Silverado (585,564), Ram (500,723), Rav 4 Toyota (407,594) and the Nissan Rogue (403,465).