I doubt it's revenue. A little Googling leads to estimates of the total global number of new cars sold annually being between 75 million and 90 million. Divide

I doubt it's revenue. A little Googling leads to estimates of the total global number of new cars sold annually being between 75 million and 90 million. Divide 400 billion by the more conservative estimate and it still gives you a bit over $5k per vehicle, which seems way too low to be an average sales price. So revenue has to be quite a bit higher. Also, Google lists the size of the US auto loan industry (i.e. money owed by buyers) as $1.1 trillion. Since auto loans average around 5 years, that would mean that the US alone spends at least $200 billion per year on automobiles (more probably, since that wouldn't count people who buy their cars outright or pay their loans off early), and we're nowhere near half the world market. IIRC, our auto market is only slightly larger than Europe's.