Cars

Which country makes up the largest segment of car buyers in the world

You probably guessed it The United States With 299398484 citizens according to the US Census Bureau coupled with a betterthandecent economy its not surprising But analysts predic
Which country makes up the largest segment of car buyers in the world

You probably guessed it The United States With 299398484 citizens according to the US Census Bureau coupled with a betterthandecent economy its not surprising But analysts predict that while demand for cars and trucks in the US is unlikely to decrease by 2025 the United States will no longer be the largest car market in the world

Demand for automobiles has increased dramatically in countries like China as well as many other developing countries and by 2009 the Asia Pacific region is likely to become the largest car market in the world Currently Europe is the worlds largest continental market

Indicators predict however that before the end of the decade the Asia Pacific regions demand for light vehicles will hit the 23 million mark higher than ever before With steadily rising incomes in Asia as well as India a whole new group of firsttime vehicle owners is emerging Americans and Canadians have already topped out in this regard leaving these developing countries to be the forces that drive the future global market according to spokespeople at JD Powers

How will this affect top sellers in the US market Chances are it wont Americans will still drive their Isuzu Ascenders and their Ford Focuses A thriving US economy as well as affordable lease options and payment structures will keep Americans buying and buying often With a median household income of over 46000 Americans can afford to purchase or lease a new vehicle on average approximately every four years some of this is obviously driven by the popular 36month lease option available with most new cars

BusinessWeek Magazine reported that by 2010 the demand for cars will continue to dominate in the US but the countrys car market growth will plateau at under 17 million In essence it already has In 2000 the number of light vehicles registered in the country was 1748 million It dropped to 1739 in 2001 and hasnt been able to hit the 17 million mark since

On many levels US regulations and the expectations of American consumers dictate the products offered by car manufacturers For example Isuzus upgrades and superior safety features in their popular i370 pickup truck reflect the desires of Americans to drive highquality safe vehicles While some of these enhanced safety features arent required by law manufacturers add them to make their products more competitive in the US Will consumers in Asia demand the same Its unlikely it will matter whether they will or not The global car market will never be able to ignore the demands of the American consumer who will continue to wield the greatest spending power

Foreign car manufacturers rely on a segment of the US car market

While that need may decrease over time no company with a foothold in the US is will be eager to give that up Nearly every automotive trend to date has roots tightly gripped in American soil From the surge in popularity of the SUV to the desire for green cars and hybrids to the pickup truck iconic of Middle America the US will be a major player in foreign and domestic car sales for a long time to come