Will Automotive Market Grow ?

Will Automotive Market Grow ?

 

Well…

To make an answer to this question, we need to find out some data “How many vehicles we have now ?”. If we can see the vehicles per person of each country, and if we can add some information such as, economic situation, historical background and political status we can forecast in which way the market will grow.

 

The picture below is issued from OICA which shows “Vehicle registration per 1000 people”. This data shows very different distribution of vehicle population through the countries. United States shows the highest number of about 800 vehicles per 1000 people (almost one vehicle per person) and the second position by Australia with the figure of 713, my country South Korea shows the number of 539 as merged data with Japan.  The lowest number is shown from India which is far below 100, Africa continent and ASEAN shows also great potentials as an automotive market.

 

 

What this data tells us ?

The automotive market will grow till the market shows saturation with one vehicle per person. This means the automotive market has still great potential. But one thing important is “Which type of vehicle will be sold in the future ?” I think the current style of vehicles with ICE (Internal Combustion Engine) will not be the candidate, unfortunately.