After auto industry in the US reached its peak of 236.4 million in 2008, it began to drop never reaching such a level.
The continuous drop shows a sharp sales slump, as well as the decreasing number of American drivers. A recent study shows that the number of vehicles registered in the US in 2011 fell by 2.6 million units to 233.8 million units. Analysts blame the recession for this dramatic fall and predict that the number of new vehicle registrations will begin to increase again.
“It is likely that this was only a temporary maximum and that the decline after 2008 was primarily driven by the current economic downturn that started that year,” said analyst Michael Sivak. “Consequently, with the improving economy and the expected increase in the U.S. population, it is highly likely that from a long-term perspective, the absolute number of vehicles has not yet peaked.”
Last month the U.S. Public Interest Research Group said that the nation’s ‘driving boom’ dating back to 1964 has reached its end. The drop in driving, which began before the recession, can be attributed to the high costs, demographic changes and the drop in consumer confidence. From 1999 to 2007 US light-vehicle sales reached 16 million units, then in 2008 they dropped to 13.2 million and reached 10.4 million in 2009.