U.S. - Radio Receivers For Motor Vehicles - Market Analysis, Forecast, Size, Trends And Insights
Vehicle Radio Price in America Increases 7%, Averaging $158 per Unit
U.S. Vehicle Radio Import Price in October 2022
In October 2022, the vehicle radio price stood at $158 per unit (CIF, US), picking up by 7.1% against the previous month. Over the period from January 2022 to October 2022, it increased at an average monthly rate of +3.4%. The most prominent rate of growth was recorded in May 2022 an increase of 16% m-o-m. The import price peaked in October 2022.
Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($165 per unit), while the price for Taiwan (Chinese) ($7.5 per unit) was amongst the lowest.
From January 2022 to October 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the prices for the other major suppliers experienced a decline.
U.S. Vehicle Radio Imports
In October 2022, imports of radio receivers for motor vehicles into the United States expanded slightly to 353K units, growing by 4.8% against September 2022. The total import volume increased at an average monthly rate of +4.2% over the period from January 2022 to October 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in February 2022 with an increase of 19% m-o-m. Imports peaked at 367K units in June 2022; afterwards, it flattened through to October 2022.
In value terms, vehicle radio imports rose remarkably to $56M (IndexBox estimates) in October 2022. Overall, total imports indicated buoyant growth from January 2022 to October 2022: its value increased at an average monthly rate of +7.8% over the last nine-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2022 figures, imports increased by +16.3% against June 2022 indices. The most prominent rate of growth was recorded in June 2022 with an increase of 28% m-o-m. Over the period under review, imports attained the peak figure in October 2022.
U.S. Vehicle Radio Imports by Country
In October 2022, Mexico (317K units) constituted the largest supplier of vehicle radio to the United States, with a 90% share of total imports. Moreover, vehicle radio imports from Mexico exceeded the figures recorded by the second-largest supplier, Portugal (20K units), more than tenfold. China (11K units) ranked third in terms of total imports with a 3.2% share.
From January 2022 to October 2022, the average monthly growth rate of volume from Mexico amounted to +4.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Portugal (+2.8% per month) and China (+13.5% per month).
In value terms, Mexico ($52M) constituted the largest supplier of vehicle radio to the United States, comprising 94% of total imports. The second position in the ranking was held by Portugal ($2.1M), with a 3.7% share of total imports. It was followed by China, with a 1.2% share.
From January 2022 to October 2022, the average monthly rate of growth in terms of value from Mexico amounted to +8.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: Portugal (+2.5% per month) and China (+0.7% per month).
Factors Affecting Vehicle Radio Prices
In the United States, the average price for a vehicle radio is around $100-200. However, there are a number of factors that can affect the price, including the type of vehicle, the make and model of the radio, and the features desired.
Type of vehicle: The type of vehicle you have can impact the price of the radio. For example, luxury vehicles often have higher-end radios with more features than lower-priced models.
Make and model of radio: The make and model of the radio can also affect its price. Some brands are known for their high quality and durability, while others are more budget-friendly.
Features desired: Finally, the features desired in the radio can also affect its cost. The basic radio with just AM/FM capabilities will cost less than the unit with Bluetooth connectivity and navigation.
This report provides an in-depth analysis of the vehicle radio market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET
Join our live webinar to get insights into the global biogas market.
Thursday, November 18th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into the global printed circuit assembly market.
Thursday, April 29th, 2021 @ 04:00 pm ET