Lothar Maier
Yes. I think it is probably not accurate to try to look at our growth in automotive relative to how many cars get sold every year. Even just taking an average number of increase in electronic, we are focused on kind of the leading-edge products in cars and the amount of electronics that is going in these high-end cars and that is really where a lot of our business is growing. I don’t have the numbers, but I am sure is growing a lot quicker than the 7% that you quoted, so we are not kind of in sort of the run-of-the-mill type of electronics in a car. Cars are getting vision systems, they are getting stop-start systems. They have got EVs in ATVs, so that’s the kind of business that we are targeting at and my sense is that is probably going to grow substantially more than 7% you quoted.
Jim Covello
Very helpful.
Paul Coghlan
Jim, in the paper last week out here, I think they said that they was a broad survey done by autotrader.com and the results of which were that the consumers in that survey said they would spend up to $1,500 extra for more electronics in their car. It is not like the other advantage we all may have in automotive is the purchaser of cars is willing to spend more for his next car, so it is not just the pure replacement. I do not know if that might impact your 7% somewhat if that holds to be true.
Bob Swanson
Well, then also that report also talked about in your opinion we were just at the beginning of this electronics implementation automobiles. The other thing is that is something that we speculated on that as many people make a decision on buying a car based on electronic contents than horsepower, which is pretty interesting.
Jim Covello
Sure. That is all incredibly helpful. I appreciate all that very much.
Lothar Maier
Thanks, Jim. Have a nice day.
Operator
Here we will take our next question from Amit Shah. Go ahead. Your line is open.
Amit Shah, Nomura Securities
Yes. Thanks a lot. I was looking at the five-year and 10-year medium growth rates for the March quarter, which is about 4% and I think one thing that people are struggling to reconcile today is, how you could be guiding for better than normal growth given in the macro backdrop which, Paul, you articulated as mixed? You mentioned strength in North America, but as a percentage of your business that is only 25%, whereas the other regions Europe, Japan and the rest of the world, which you indicated are decelerating comprised of the remaining 75%.
Paul Coghlan
First of all, you are correct in saying that 27% of our sales were into the US, but I also mentioned in my opening comments that 41% of the demand we created was created in the US, so some of the actual manufacturing selling of that would been done offshore, but the demand was created in the US. Secondly, and I think and I am no economist, but historically if the US economy has been strong that is the best of having strength in any of the other economies, so the US economy tends to have more of a worldwide impact if it is than if Europe is a little weaker or Japan is a little weak or China is a little weak. China being a little weak, it is still growing 7%, so that’s a pretty solid number.
