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.
    Estimates of the global automobile market vary substantially from one source to another.
    Analysts at IHS Automotive estimated the global market at 88.6 million units for 2015. 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 totalled 17.5 million units for 2015.
     This represents excellent growth from 16.5 units sold in 2014 and 15.6 million units sold in 2013.
    Mexico's sales were expected to grow by as much as 20% in 2015, to 1.13 million units, while Canadian sales were expected to grow slightly to 1.86 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.
    However, China's sales are heavily subject to economic growth, the availability of credit and the regulatory environment.
    As of late 2015, 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 loans, or decrease sales by adding new registration fees or restricting traffic in


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