The automotive sector in the US is now on the mend after the near-financial collapse in 2009, when auto sales sunk dramatically. Thanks to an improved economy, lower gasoline prices, job growth and more disposable income for many households, the dark days for the industry seem to be over. Ageing vehicles are further buoying sales volumes. The typical age of American cars now stand at about 11.5 years, and more than 40% of the total is at least 12 years old, with many needing to be replaced in the coming years. After turning out about 17.5 million cars in 2015, Mergent believes car sales will set another record in 2016, before interest rates and other headwinds create new challenges for automakers. #MergentInc #industryreports #automotive
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