In 2007, a total of 71.9 million new automobiles were sold worldwide: 22.9 million in Europe, 21.4 million in Asia-Pacific,
19.4 million in USA and Canada, 4.4 million in Latin America, 2.4 million in the Middle East and 1.4 million in Africa.
The markets in North America and Japan were stagnant, while those in South America and other parts of Asia grew strongly.
Of the major markets, Russia, Brazil, India and China saw the most rapid growth.
About 250 million vehicles are in use in the United States. Around the world, there were about 806 million cars and light
trucks on the road in 2007; they burn over 260 billion gallons of gasoline and diesel fuel yearly. The numbers are
increasing rapidly, especially in China and India.
In 2008, with rapidly rising oil prices, industries such as the automotive industry, are experiencing a combination of
pricing pressures from raw material costs and changes in consumer buying habits. The industry is also facing increasing
external competition from the public transport sector, as consumers re-evaluate their private vehicle usage.
Roughly half of the US's fifty-one light vehicle plants are projected to permanently close in the coming years,
with the loss of another 200,000 jobs in the sector, on top of the 560,000 jobs lost this decade. Combined with robust
growth in China, in 2009, this resulted in China becoming the largest automobile market in the world.