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The odd-trying line on this graph is the one for domestic consumption of autos and elements as a fraction of GDP; the line starts to drop after 2002, only reversing in 2010. It is odd to me as a result of a graph of US automobile sales is essentially flat from 2001 to 2007 at between 16 and 17 million vehicles per year. Reading off Stuart’s graph above, the gross consumption line begins at about three.7% of GDP in 2001 and drops to around 2.eight% in 2007, so roughly a 25% drop. Looking at BEA Table 1.1.5. US GDP rose 36% during that period.
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The electrical-automobile maker is the newest company to grow to be a market darling based mostly not on what it has achieved however on a imaginative and prescient of a dominant future. I really need to thank everybody within the Gainesville office for such a straightforward expertise and going above and beyond to make our vehicle purchase occur. Donald Trump, talking to auto executives and staff in a former meeting plant close to Detroit, halted a move by Barack Obama to tighten gas-economy requirements.
Complicating your exercise much more is the fact that people are inclined to keep their vehicles longer nowadays than they used to. That is in large part as a result of high quality has gone up, lowering the frequency wanted to purchase a new automotive. I suspect this has much more to do with the declining share of GDP dedicated to auto purchases than any of the opposite factors you mentioned.