Mary T. Barra, the chief executive of Basic Motors, with President Trump at a Michigan occasion final month to debate automaking and job creation.
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The odd-looking line in this graph is the one for domestic consumption of autos and parts as a fraction of GDP; the line starts to drop after 2002, only reversing in 2010. It’s odd to me because a graph of US vehicle gross sales is basically flat from 2001 to 2007 at between 16 and 17 million vehicles per yr. Studying off Stuart’s graph above, the gross consumption line starts at about 3.7% of GDP in 2001 and drops to round 2.8% in 2007, so roughly a 25% drop. Taking a look at BEA Desk 1.1.5. US GDP rose 36% during that period.