Mary T. Barra, the chief govt of General Motors, with President Trump at a Michigan occasion last month to debate automaking and job creation.
You possibly can see the rise in imports from much lower than 1% within the Sixties to about 2% of US GDP within the mid 2000s (till the nice recession hit). The other fascinating factor is that consumption of autos (as a fraction of the financial system) started a severe decline within the early 2000s. That’s going to complicate the analysis which I will take up once more in the next publish.
Complicating your exercise even more is the fact that folks tend to preserve their cars longer these days than they used to. This is in large part because high quality has gone up, lowering the frequency needed to buy a new automotive. I believe this has far more to do with the declining share of GDP devoted to auto purchases than any of the opposite factors you mentioned.
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