Just to put things in context
- US population ~300M
- Car Sales every year between 50M-60M for past 15 years
- New car sales/lease 17M and used car sales 41M for 2007
- New car sales/leaves revenue is more than old car sales revenue even tough the volume of used cars is more than twice the new cars/leases.
- Average cost of a passenger car is 13.5K. New car - 27K and used car - 8.2K.
US manufactured 9%(4.3M) of all passenger cars produced by the world in 2006. Japan produces more than double the US - 9.7M. Germany with 5.4M comes second.
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