US Auto Imports Wane While Exports Increase
The share of seaborne auto imports will decline this year and for the next two years before leveling off at slightly above 20 percent, according to forecasts by IHS Automotive.
The U.S. auto trade is undergoing a sea change as the import share of the domestic market is set to level off in the next few years and exports of U.S.-made cars rise.
Ever more autos are being made in plants foreign automakers have set up in the U.S. and its North American Free Trade Agreement neighbors. As a result, the share of the U.S. market controlled by auto imports is on the wane after years of growth, while the share of the market controlled by “foreign-badged” cars made in the U.S. is rising.
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