Back of envelope math. Out of 330M people even if 5% of population is buying a new car in the given year that is whooping 15M cars per year. USA sells around 1

Back of envelope math. Out of 330M people even if 5% of population is buying a new car in the given year that is whooping 15M cars per year. USA sells around 17M cars year +-2M. One simple proxy to arrive at the 5% figure is the number of people in 16-19 age group where they might get parent's old car and the parent might buy a new one. That population is around 20M in USA. Of course I have not accounted for taxi fleets, car rental fleets, corporate purchases etc. In fact go to think of it 17M cars per year does look like a very low number.