Mary T. Barra, the chief executive of Normal Motors, with President Trump at a Michigan event last month to debate automaking and job creation.
Complicating your train much more is the truth that folks tend to keep their cars longer these days than they used to. That is largely because high quality has gone up, lowering the frequency wanted to buy a new car. I think this has far more to do with the declining share of GDP dedicated to auto purchases than any of the other factors you mentioned.
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The odd-wanting line in this graph is the one for domestic consumption of autos and elements as a fraction of GDP; the road starts to drop after 2002, only reversing in 2010. It is odd to me because a graph of US car gross sales is essentially flat from 2001 to 2007 at between sixteen and 17 million automobiles per year. Studying off Stuart’s graph above, the gross consumption line starts at about three.7% of GDP in 2001 and drops to around 2.eight% in 2007, so roughly a 25% drop. Taking a look at BEA Table 1.1.5. US GDP rose 36% during that period.
I am a scientist and innovator in the know-how business, with a broad range of interests and experiences. I’ve a Physics PhD, MS in CS, and have executed analysis , lived in cohousing communities, run a enterprise, and designed know-how products. Professionally, I have primarily labored on computer security problems. At the moment I am Adjunct Professor of Pc Science at Cornell, but this weblog represents my views only. Email me at stuart – at – earlywarn – dot – org. I do learn all electronic mail, however because the weblog is part-time unfunded enterprise, I typically fail to reply due to lack of time – apologies.