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Driver’s License Holding Rates: In the U.S., approximately 86% of individuals aged 16 to 65 hold a driver's license. This figure remains relatively stable, whereas shifts in countries like China indicate a different trend.
Cars per Driver: The average number of cars owned per licensed driver has remained consistent at about 1.2 for several decades, with a slight increase recently, but overall ownership levels have stabilized.
Scrappage Rate: The rate at which vehicles are scrapped significantly influences new car sales, typically accounting for over 80% of the demand. Factors affecting scrappage include collisions, disposals, and exports of used cars.
As Godfredson elaborates, understanding these variables elucidates the downward pressures on automotive demand.