Table Of ContentGlobal Automobile Demand
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Global Automobile
Demand
Major Trends in Mature Economies;
Volume 1
Edited by
Bruno Jetin
Université Sorbonne Paris Cité, France
Selection, introduction and editorial matter © Bruno Jetin 2015
Individual chapters © Contributors 2015
Softcover reprint of the hardcover 1st edition 2015 978-1-137-51613-8
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in accordance with the Copyright, Designs and Patents Act 1988.
First published 2015 by
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ISBN 978-1-349-70350-0 ISBN 978-1-137-51614-5 (eBook)
DOI 10.1007/978-1-137-51614-5
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Library of Congress Cataloging-in-Publication Data
Global automobile demand : major trends in mature economies / [edited by]
Bruno Jetin.
volumes cm
Includes bibliographical references.
1. Automobile industry and trade. 2. Automobile ownership. I. Jetin, Bruno.
HD9710.A2G55 2015
338.497629222—dc23 2015003468
To Michel Freyssenet, one of the founders of GERPISA, and
always a source of intellectual stimulation
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Contents
List of Figures v iii
List of Tables x i
Notes on Contributors xiii
Introduction 1
Bruno Jetin
1 The US Automobile Market after the “Great Recession”:
Back to Business as Usual or Birth of a New Industry? 1 0
Bruno Jetin
2 A Model to Follow? The Impact of Neoliberal Policies on
the British Automobile Market and Industry 37
Tommaso Pardi
3 Excess Capacity Viewed as Excess Quality – The Case of
French Car Manufacturing 72
Bernard Jullien
4 Income Polarisation, Rising Mobility Costs and Green
Transport: Contradictory Developments in Germany’s
Automotive Market 105
Antje Blöcker and Julia Hildermeier
5 The Automobile Demand in Spain 127
Holm-Detlev Köhler and José Pablo Calleja Jiménez
6 Japan’s Automobile Market in Troubled Times 151
Holger Bungsche
7 From Expansion to Mature: Turning Point of the Korean
Automotive Market 179
Myeong-kee Chung
Conclusion 2 02
Index 2 05
vii
List of Figures
1.1 New cars and light-trucks sales in the United States
(1946–2013) 1 2
1.2 Labour productivity and real compensation gap in the
US (1947–2013) 1 3
1.3 US households’ debt as share of disposable income
(1945–2013) 1 4
1.4 Delinquency rates on auto loans (2006 Q4–2013 Q4) 17
1.5 New car purchase financing terms of auto finance
companies (1971–2011) 20
1.6 Real household mean and median income in the
United States (1975–2012) 22
1.7 The new car, still a mass consumption good? (1913–2011) 23
1.8 Purchase of new cars and trucks of lowest and highest
quintiles (1984–2012) 24
1.9 Breakdown of new light vehicles unit sales by size in
the United States (1975–2012) 24
1.10 Share of selected expenditures of US households in
total expenditures (1929–2012) 26
1.11 Share of motor vehicles outlays in total personal
consumption (1929–2012) 27
1.12 Towards a saturation of the automobile market?
(1950–2011) 2 9
1.13 Distribution of all open automotive loans by risk tier
(new & used vehicles) (2006–2014) 30
1.14 Delinquency and new auto loan origination
(2000–2014), Q1 3 2
2.1 UK car production by group and brands (1970–2011) 38
2.2 Cars production and sales in the UK (1970–2012) 41
2.3 UK car production and the evolution of the £/DM
exchange rate (1980–2011) 42
2.4 UK balance of trade for new cars and car parts (1970–2010) 43
2.5 UK sales of new cars by groups (1970–2011) 46
2.6 UK labour share (1955–2012) and Gini coefficient
(1977–2010) 47
2.7 99/50 and 90/10 households’ incomes ratios (1979–2011) 49
viii
List of Figures ix
2.8 Fractions of individuals whose after-housing costs
incomes are at 60% and 40% of the after-housing costs
median incomes 50
2.9 Cars sales by type (1980–2011) 51
2.10 Households’ access to car or van (1972–2011) 52
2.11 Access to one, two, three or more cars by households’
deciles based on gross incomes (2001) 53
2.12 Average transaction price of secondhand cars by type
of sale, and of new cars sold by dealers (2003–2011) 54
2.13 Net national income per head during three recessions
(top) and net real household actual income during two
recessions (bottom) 58
2.14 UK total domestic expenditure and total purchase of
motorcars (1977–2011) 59
3.1 Household and fleet sales 75
3.2 Market share by product range (2007–2013) 78
3.3 New car purchases as a share of total household spending 80
3.4 Household income/corporate profits as a share of
total value added 81
3.5 Inequality indicator D9/D1 (1970–2010) 82
3.6 Relationship between the growth in four spending
categories and the growth in overall household spending
between 1985 and 2013 83
3.7 Changes in French household spending (1985–2013) 83
3.8 Amounts (in current Euros) and composition of annual
automotive spending of least and most affluent households
in 2006 91
3.9 Average unit value, in months of average wage 94
3.10 Shifting ratio of European sales by German brands/French
brands 101
4.1 Increasing profit share of GDP (1970–2012) in the 2000s 108
4.2 Growth of wages (nominal and real) and productivity in
Germany 109
4.3 Development of disposable incomes (1999–2009)
per income decile 109
4.4 Growing income gap between the poor and the rich 110
4.5 Change in incomes (2000–2010) 110
4.6 Rise of low-wage employment (1998–2011) 111
5.1 Passenger car production and exports 128
5.2 The impact of the crisis on registrations in Spain 130
5.3 New vehicle registrations in Spain by type of fuel 134
