Biggest Winner and Loser in the Growth of the Car Industry Worldwide
Over the last 18 years, the car production industry has changed dramatically, China went from an underdog to the leader of the world, to Japan's reducing its output by 15% - but overall the USA was affected most by the rise of China.
With this in mind, Quote Zone examined the movements of ranking in market shares for 14 of the most productive countries between 2000 and 2018 and ranked the biggest winner and loser country in the car production world.
Biggest Winner - China
Biggest Loser - USA
Notable Findings on Global Car Production Market Share
* China went from 4% in 2000 to an impressive 30% in 2017. The biggest jump was between 2008 and 2009, from 13% to 22%.
* Japan declined steadily from 16% in 2000 to 10% since 2015.
* The USA is affected the most by the rise of China's output - from 22% in 2000 to just 12% in 2018.
* There were two significant dips in global motor production numbers, 2009 and 2018.
* The UK's global share may drop from the current 2% to just 1.59% in 2021.
China Fights Its Way to the Top
China started with just 4% of the market share in 2000, and very aggressively ramped up its production and managed to push out all the competing countries quickly and gained its top spot as the country with the most motor production market share to-date.
You can read the full report here: https://www.quotezone.co.uk/car-insurance/growth-car-industry.htm