Business Analysis, Market Size and Industry Video

Automobiles & Trucks OVERVIEW


     The automobile industry surged ahead worldwide in recent years, with particularly sharp growth in the U.S.
    and China.
     Analysts at IHS Automotive forecast the global market at 93.5 million units for 2017.
    Car sales within North American markets have been running at very high rates.
     U.S. car and light truck sales totaled a record 17.44 million units for 2016, according to National Automobile Dealers Association.
     This was a slight decrease from 17.47 million units sold in 2015 and an increase over 16.45 million units sold in 2014.
    U.S.
    sales had slowed a bit through the first half of 2017, but massive losses of cars and trucks due to hurricanes Harvey and Irma in August and September 2017 will increase demand for both new and used vehicles as replacements.
     Mexico's sales were expected to grow by as much as 3.8% in 2017, to 1.66 million units, while Canadian sales were expected to grow slightly to 2.00 million, according to analysts at Scotia Bank.
    The biggest upward trend in auto sales has been in China.
     While estimates of its annual unit sales vary widely, China has clearly become the world's largest car market with about 23.6 million units sold in 2016.
     However, China's sales are subject to change due to such factors as economic growth, the availability of credit and the regulatory environment.
     China's government has a great

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