What is car sales?
Car sales are a complex subject.
Some are more lucrative than others, but they can all be traced back to the same core business: selling cars.
And that business is the car industry, which is in a bit of a slump.
Car sales are not a small business.
According to research firm IHS Automotive, the total value of car sales worldwide is around $2.6 trillion.
It is one of the world’s most lucrative industries, and its share of global market has grown rapidly in the past few years.
What’s the big deal?
Car sales have always been a very lucrative business, and car manufacturers are certainly doing their bit.
But in the last decade, they’ve become a lot more complicated.
Cars are more complex, they’re increasingly connected, and they have to compete with the likes of Google, Apple and Amazon.
It is a much tougher battle.
“There’s more automation, more connectivity, and there’s more connectivity in cars than in any other sector,” says Andrew Taylor, managing director at consulting firm KPMG.
“It’s a very different challenge from any other industry in terms of cost of goods, or reliability.”
That means car makers have to look to suppliers that have better track records in selling cars, and those suppliers have to make more profit.
And, as well as more competition, there are new technologies that make it harder for carmakers to compete on price and reliability.
To understand how car sales have changed over the past decade, IHS uses the numbers in this report to calculate the number of cars sold worldwide per year, as reported by carmakers.
As a rough guide, in 2018 carmakers reported selling around 3.2 million cars, or a total of 5.6 million vehicles, with a value of $2,639.5 billion.
In the last five years, car sales in the US and UK have grown by 3.3 million each, with the UK selling 5.7 million vehicles in 2019 and the US selling 5 million.
The trend for 2018 has been towards a big increase in the number and value of cars that are sold in the USA.
But the UK, Australia and the UK as a whole have had a much bigger increase in sales than the US, with sales up by 11% in 2018 and 15% in 2019.
This means the US is now selling more cars than it ever did before, and the growth in sales is the fastest in the world.
If you were to take the UK’s annual car sales of £9,921 billion, the value of all vehicles sold worldwide would be £1.9 trillion, meaning it has sold more cars per capita than any other country on Earth.
The US’s car sales are around $4,926 billion.
What’s the deal with China?
Car companies have to be very careful not to compete in China.
They need to make sure that their products do not compete with Chinese manufacturers, but if they do that is what they are going to pay a premium for.
According to the International Automobile Manufacturers Association, the average annual price of a new car sold in China in 2019 was $20,564, up from $20.6 in 2018.
And this is just the average.
The average annual value of a car in China is a staggering $80,857, up by nearly 50% over the previous five years.
So the fact that cars are now so expensive in China means they are being sold at a premium.
So the question is: how is it that so many carmakers are struggling?
The answer is simple: China’s economy is shrinking.
A report published by the Beijing Municipal Administration for Economic Research, published in November, showed that the country’s manufacturing sector, the countrys largest employer, had contracted by 3% in the year to June 2020.
For the first time in almost 20 years, the sector’s employment dropped by almost 9% last year, and China’s total manufacturing output fell by 6.3%.
The report said the loss in manufacturing activity was the result of a combination of factors including a sharp rise in the cost of imports, the slowdown of investment and the rapid fall in commodity prices.
China is facing a very hard time.
That’s because China has been experiencing a recession since the start of the year, according to the IMF.
With a GDP that has shrunk by almost half since the end of the global financial crisis in 2008, and with a workforce that is ageing, it is likely that the manufacturing sector will soon be in its final days.
Over the next decade, China will lose around 8.6% of its workforce, and that could mean a job loss of about a quarter of the workforce by 2030.
Not only that, the unemployment rate will increase by 3 percentage points in 2030, as China’s population ages and the labour force starts to shrink. However,