With the US economy struggling to grow and unemployment high, people are looking to their cars for a solution.
The question is: when does the car get an upgrade?
With the US unemployment rate at 7.7 percent, the US has one of the highest rates of car ownership in the world.
Many countries have been making their cars more affordable to consumers, such as Japan, Germany, Australia and India.
The US is the only country where the average car purchase price exceeds $20,000.
According to the latest data from the National Association of Manufacturers, the average American household car bought in 2016 is currently $23,744, a 25 percent increase from 2015.
The average US car is estimated to cost $23.5 million in 2019, according to AAA.
The trend has caught the attention of car-buying experts.
According the National Automobile Dealers Association, the car market is expected to reach $40.2 billion by 2020, an increase of more than 22 percent from 2015 levels.
This year, Toyota is expected be the world’s top automaker, but that does not mean that the Japanese company is on the rise.
A recent report by the National Insurance Institute found that the American market is still not nearly as competitive as that of other markets.
The NAI said that the average household income for American households is $54,948, a 7.4 percent increase over 2015.
The American auto industry is still recovering from the recession and is now in a better position to capitalize on the market’s high demand.
It is expected that by 2021, the American auto market will be worth $3.3 trillion, according the NAI.