"U.S. auto sales grow 3% next year...1/4 is expected to be an eco-friendly car."

Car sales in the U.S. are expected to rise further next year than this year, the highest in six years since 2019.

U.S. auto market research firm Cox Automotive expects to sell 16.3 million new cars in the U.S. next year, up 2.8% from this year's sales estimate of 15.85 million.

Those forecasts are smaller than the 17 million units sold in 2019, but the highest level in six years since the outbreak of the COVID-19 pandemic.

"As a result of the presidential election, uncertainty about tax policy is reduced and both stock market growth and consumer and dealer sentiment are improved, which has a positive impact on the automotive market," Cox Automotive said.

In particular, it predicted that "concerns about policy changes such as tariff bombs among U.S. consumers will encourage impatient sentiment that "we should buy now."

He also cited expanding the share of eco-friendly cars, including electric vehicles, as one of the major trends in the automobile market next year, and predicted that one in four new cars sold next year will be eco-friendly cars.

In particular, the market share of electric vehicles is expected to rise from 7.5% this year to 10% next year, with annual sales exceeding 1.5 million units.

Hybrid and plug-in hybrids were expected to account for 15% of the total market, and the share of traditional internal combustion locomotives was expected to fall to 75%, the lowest level on record.

"Cutting the Inflation Reduction Act (IRA) subsidy could reduce EV sales, but with various new products and state tax credits, EV share in the U.S. will increase," Cox Automotive said.

As for Tesla, however, it pointed out that "sales have fallen year-on-year, accounting for less than half of the electric vehicle market now, and its aging product line is the biggest challenge."