Beijing Car Sales

Thanks Paul Kedrosky for the info. 1200 cars sold per day in Beijing so far this year. And the penetration in China remains very low as the following chart from Scotiabank shows.

US car sales are low

Calculated Risk has a great chart on the turnover ratio of the US car fleet. You obtain it by dividing the number of registered vehicles in the US by the annual sales rate. At the current sales rate of ca 10m units per year it would take 23.9 years to replace the fleet. Ever been to Cuba?