Global car market and global economy

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Global car market and global economy

Journal Title: Економіка: реалії часу - Year 2016, Vol 3, Issue 25

Abstract

The modern car market is the basis of the global economy. So, it is produced 82 million cars in the world on the amount of 2 trillion USD, it is almost 5% of total world GDP. Almost 9 million people are working in the car industry; it is more than 5% of total employees in the world. Such volumes of cars sales do influence global economic growth and crisis. Perspectives of global car market development and its impact on global economy have been viewed in the article. The history of statistic rows of the global GDP, cars production and sales, inflation levels and unemployment rates beginning form 1979 has been researched; there was determined interdependence. There were researched crisis and its length, economic growth and its length relatively in the world economy. It is determined that global car market predicts crisis before 2-3 years when crisis happens. Sharp inflation increase happens 1 year before economic crisis as well as unemployment rises is considered to be just 2 years before economic recession. The scenario of global cars sales and forecast for new global economic crisis in 2016-2019 has been developed. Sharp necessity for car industry support and customer demand stimulation by state governments in order not to allow negative economic consequences including economic crisis is determined. We predict global recession beginning from 2106 year on the level 1.5% with the bottom crisis in 2017 on the level of 6%. And then we see that economy will sharply recover in 2019. It will be the era of long wave economy development. Car sales decrease is predicted to happen in 2016-2017 years.

Authors and Affiliations

Oleksandr Savych

Keywords

EP ID EP571758
DOI -
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