Industry Analysis & Industry Trends
The Global Car and Automobile Sales industry experienced a significant decline during the global recession, as the industry is vulnerable to economic shifts in employment and spending. While demand for new and used vehicles in mature markets (e.g. Japan, Western Europe and the United States) fell during the economic downturn, the industry flourished in the emerging economies of Brazil, Russia, India and China. The release of pent-up demand for industry products will drive sales over the next five years, and the development of energy-efficient hybrid and electric vehicles is expected to lead the industry into a new era of prosperity... read more
The global recession affected a number of industries, particularly the automotive sector. Weak consumer confidence, low incomes and tight access to credit crippled demand for industry products. Consequently, industry operators experienced significant revenue declines during the period, including a 15.4% plunge in 2009. Moreover, falling industry revenue led to decreased profit margins for many industry operators.
Demand for vehicles has since rebounded as consumer sentiment recovered. Over the five years to 2014, industry revenue is expected to increase at an annualized rate of 7.5% to $4.4 trillion, including growth of 1.1% in 2014... read more