Which country makes up the largest segment of car buyers in the world?
You probably guessed it. The United States. With 299,398,484 citizens (according to the U.S. Census Bureau), coupled with a better-than-decent economy, it’s not surprising. But analysts predict that while demand for cars and trucks in the U.S. is unlikely to decrease, by 2025, the United States will no longer be the largest car market in the world.
Demand for automobiles has increased dramatically in countries like China as well as many other developing countries and by 2009, the Asia Pacific region is likely to become the largest car market in the world. Currently, Europe is the world’s largest continental market.
Indicators predict, however, that before the end of the decade, the Asia Pacific region’s demand for light vehicles will hit the 23 million mark higher than ever before. With steadily rising incomes in Asia as well as India, a whole new group of first-time vehicle owners is emerging. Americans and Canadians have already topped out in this regard, leaving these developing countries to be the forces that drive the future global market, according to...
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