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You possibly can see the rise in imports from much lower than 1% within the Sixties to about 2% of US GDP in the mid 2000s (till the good recession hit). The opposite attention-grabbing factor is that consumption of autos (as a fraction of the economy) started a serious decline within the early 2000s. That’s going to complicate the analysis which I’ll take up once more in the subsequent put up.
The odd-looking line on this graph is the one for domestic consumption of autos and elements as a fraction of GDP; the road starts to drop after 2002, solely reversing in 2010. It is odd to me because a graph of US vehicle gross sales is essentially flat from 2001 to 2007 at between 16 and 17 million autos per 12 months. Studying off Stuart’s graph above, the gross consumption line starts at about three.7% of GDP in 2001 and drops to round 2.eight% in 2007, so roughly a 25% drop. Looking at BEA Table 1.1.5. US GDP rose 36% throughout that period.
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Craig had set his sights on taking his T34 Razor edge Karmann Ghia straight out the doors to the Viva Skeg Vegas present in Skegness. A few late nights in the workshop, a radical element by our good good friend Paul at The Detailing Home , and a final minute becoming of the handbrake cables that we had custom made, collected en route from Wales by Craig, meant that at around 7.30pm on a friday evening, we lastly waved goodbye to the razor.