Automobile Industry Introduction, Business and Industry Trends Analysis

The automobile industry surged ahead worldwide in recent years, with particularly sharp growth in the U.S. and China.  Analysts at S&P Global Ratings forecast the global market at about 83 million units for 2021, after a very disappointing 77 million during 2020. U.S. car and light truck sales totaled 17.1 million units for full-year 2019, according to NADA, declining to about 14.4 million in 2020.  For the entire year 2021, sales were likely to be in the 14.3 million vehicle range, per a late-summer Cox Automotive estimate.  The stock of new cars available through dealers was very low during 2020…

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