The auto industry is currently undergoing a few significant changes around the world. Three of the most
Question:
The auto industry is currently undergoing a few significant changes around the world. Three of the most essential modifications happening now and likely to evolve further are:
- Development and popularity of ride-share services like Uber.
-Development and increasing adoption of electric vehicles
-Development of autonomous driving.
On top of the above three industry-specific trends, other long-term socio-economic trends are happening in almost all parts of the world.
In addition, these long-term trends, and supply-chain issues have also impacted the last two years.
Its 2023 and a major global car company needs to estimate the overall market size (in units) of light vehicles (cars, SUVs, and light trucks) in the US in 2035.
What is the estimation of the market size for light vehicles in (units) in 2035 in the US? Explain the estimated market size based on the three factors and socio-economic trends.