» Peak New Car in the USA Was 1978

Well, maybe and maybe not. !978 was followed by a three year interest rate induced recession that suppressed car sales and after that the whole industry switched heavily into the leasing business. This surely changed out the stats from new car sales to leased car sales that did not change out to a sale until it was a used car.

What followed was a steady increase on new cars on the road fueled by lease sales.  This make the change over invisible and made the automobile sales industry very happy.  they discovered it was way easier to make a profit on leases as no one was ever able to count those dollars.

It anything most everyone is driving late model cars if he has a job.


Peak New Car in the USA Was 1978 

 February 19, 2024 by Brian Wang

https://www.nextbigfuture.com/2024/02/peak-new-car-in-the-usa-was-1978.html#more-193234


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.