The Real Reason Car Sales Are Falling
Vehicles haven’t been hitting the junkyard quick enough to maintain what had been a record pace.
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It’s been a tough few months in Detroit. After seven years of gangbuster sales, the U.S. auto market is skidding badly.
The American car and truck segment is remarkably easy to get a handle on, but a look at some of its indicators may induce some head-scratching. For the past 20 years, the number of licensed drivers has ticked up by about 2 million a year (Uber and Lyft have failed to dent that). Likewise, the number of registered vehicles has climbed by about 3 million annually.