Automobile Industry Market Research

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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 88.12 million units for 2016. Car sales within North American markets have been running at very high rates.
     According to Plunkett Research estimates, U.S.
    car and light truck sales will likely total from 16.8 million to 17.3 million units for 2016, provided the economy does not slow significantly during the final quarter of the year.
     This would represent a decline from 17.5 million units sold in 2015 and an increase over 16.5 million units sold in 2014.
     Mexico’s sales were expected to grow by as much as 18% in 2016, to 1.55 million units, while Canadian sales were expected to grow slightly to 1.96 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 21 million units sold in 2015.
     However, China’s sales are heavily subject to change due to economic growth, the availability of credit and the regulatory environment.
     As of 2015-16, the growth rate of the Chinese economy was slowing, and sales of discretionary items were down, particularly luxury items.
     China’s government has a great deal of control over the market, as, at any time, it may increase sales by encouraging new auto


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