Autoline describes the problem of Peak Auto. New car sales have hit their peak in the U.S., Europe and Japan. Despite strong population growth in the U.S., new car sales are the same as they were a quarter of a century ago. Here’s why.
US overall car sales have dropped from 2000 to today despite US population increasing by nearly 20%.
Global new car sales peaked in 2017.
Historically, it took 25 weeks of household income to buy a new car. US household income is $75000, so 25 weeks of income can afford $36,000 of car. The average new car price is $48000.
Interesting stats from Autoline’s John McElroy on new car sales… @Tesla unboxed approach to building locally sourced highly featured EVs in a new inexpensive approach seems to be directionally correct… automakers protecting profits by raising prices has run its course pic.twitter.com/CcqRBIx1fV
— Jeff Lutz 🔋 (@thejefflutz) February 19, 2024
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
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