Car Sales & Economic Growth
There exists a correlation between car sales and economic growth. When (per capita) gross domestic product (GDP) growth boosts people's purchasing power while consumer confidence is strong, people are willing to buy a car. However, in times of economic uncertainty (slowing economic expansion and reduced optimism - or pessimism - about future personal financial situations) people tend to postpone the purchase of relatively expensive items such as a car.
This correlation between domestic car sales and economic growth is clearly visible in the case of Indonesia. Between the years 2007 and 2012, the Indonesian economy grew at least 6.0 percent per year, with the exception of 2009 when GDP growth was dragged down by the global financial crisis. In the same period, Indonesian car sales climbed rapidly, but also with the exception of 2009 when a steep decline in car sales occurred.
Economic Growth & Car Sales Statistics of Indonesia:
Car Sales & Economic GrowthThere exists a correlation between car sales and economic growth. When (per capita) gross domestic product (GDP) growth boosts people's purchasing power while consumer confidence is strong, people are willing to buy a car. However, in times of economic uncertainty (slowing economic expansion and reduced optimism - or pessimism - about future personal financial situations) people tend to postpone the purchase of relatively expensive items such as a car.This correlation between domestic car sales and economic growth is clearly visible in the case of Indonesia. Between the years 2007 and 2012, the Indonesian economy grew at least 6.0 percent per year, with the exception of 2009 when GDP growth was dragged down by the global financial crisis. In the same period, Indonesian car sales climbed rapidly, but also with the exception of 2009 when a steep decline in car sales occurred.Economic Growth & Car Sales Statistics of Indonesia:
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