Around the globe, there were about 806 million cars and light trucks on the road in 2007, consuming over 980 billion litres (980, 000, 000 m3) of gasoline and diesel fuel yearly. [7] The automobile is a primary mode of transportation for many developed economies. The Detroit branch of Boston Consulting Group predicts that, by 2014, one-third of world demand will be in the four BRIC markets (Brazil, Russia, India and China). Meanwhile, in the developed countries, the automotive industry has slowed down. [8] It is also expected that this trend will continue, especially as the younger generations of people (in highly urbanized countries) will no longer want to own a car anymore, and prefer other modes of transport. [9] Other potentially powerful automotive markets are Iran and Indonesia. [10] Emerging auto markets already buy more cars than established markets. According to a J. D. Power study, emerging markets accounted for 51 percent of the global light-vehicle sales in 2010. The study, performed in 2010 expected this trend to accelerate. [11][12] However, more recent reports (2012) confirmed the opposite; namely that the automotive industry was slowing down even in BRIC countries. [8] In the United States, vehicle sales peaked in 2000, at 17. 8 million units. [13]
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