If I assume that 50% of the 300M Americans are of legal driving age, then that leaves a potential of 150M customers. Assume the average life of cars/trucks to be 7.5 years, then there is a natural need of nearly 21M cars/trucks per year. Yet the current annual market is significantly less than that at $16.4ish million.
I don’t see the auto market declining with any signifigance. In the industry, we hear this claim every year and then we hear those forecasters sound shocked when there is slight year over year growth.
The average life of cars/trucks is actually about 15 years, not 7.5.....
The average american only keeps their vehicles for 4-5 years, though, showing yet another way in which they throw money down the toilet....