Just want to check if my approach is mathematically/logically correct:
1-Find total number of cars in country X (for example: number of households * # of cars per household)
2-number of new car purchases each year is : (1) /service life (10 years for example)
3-number of cars that are disposed due to end of service life or accident.
4- ( 1 - (2+3)) will give us total number of used cars.
5- divide (4) by service life, lets say 5 years since used (won't last as much so less than 10 years). to get number of used cars sold per year in country X
Assumption : no growth in market
Thanks in advance