Population doesn’t mean a damn thing. It’s all about that cash. And in a recent study from TruCar Inc., it turns out that the United States is still the world’s richest automotive market. In fact, compared to China– the world’s largest market (19.7 million vehicles sold to the United States’ 16.5 million)– the United States’ total value of new-vehicle sales won out by a staggering $161 BILLION.
Now, yes, that does mean that we pay about $14,000 more per vehicle, but it also means that we have an advantage when it comes to jobs availability, earning potential, and overall industry health. Even better than that, though, is the fact that it appears that the numbers will stay that way for a long time to come.
In an official statement, TrueCar President John Krafcik says, “While the growth of China’s new-vehicle market over the last decade has been impressive, the total value of that market remains considerably lower than the U.S. and will remain so for some time.”