The Automotive Industry | Automotive News

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Automotive Industry

The automotive business, 1 of the most crucial industries in the world, has left its mark not only on the economy but also on the world cultures. The automotive industry is involved in the design, development, manufacture, marketing and advertising, and sale of motor vehicles.

A lot more than 73 million motor vehicles, such as cars and commercial vehicles had been produced worldwide in 2007 with a total of 71.9 million of new automobiles sold: 22.9 million in Europe, 21.four million in Asia-Pacific and 19.4 million in USA and Canada. Although markets in North America and Japan have stagnated, those in South America and Asia have grown, with the most rapid growth coming from Russia, Brazil and China.

The Automotive Business produces automobiles and other gasoline-powered vehicles, like buses, trucks, aeroplanes, and motorcycles, but also electricity-powered vehicles, such as trains. Not only does it supply jobs for millions of individuals worldwide, but the revenues generated reach well over billions of dollars, supplying the essential base for a wide range of other service and related industries.

The invention of automobiles revolutionized transportation in the early 20th century, and the way people lived and commuted for pleasure or enterprise was forever changed. Goods could be taken farther and faster, and new market areas had been now opened to facilitate company and commerce.

Overall expenses of production had been brought to a minimum with approaches such as mass production, meaning that numerous items had been produced at when, mass marketing and advertising- items had been sold nationally not only locally), and last but not least, globalization of production assembling items with parts manufactured all over the world.

However, in 2008 due to increased oil costs the automotive industry is subject to pressures from greater costs of raw material combined to modifications in the acquiring habits of buyers. Moreover, the industry is at the same time up against external high competition coming from the public transport sector, since consumers are just now starting to evaluate the use of their private vehicle.

In North America, the automobile industry is dominated by the well-known Big Three:

General Motors (producer of Chevrolet, Pontiac, Buick and Cadillac, etc)
Chrysler (Chrysler, Jeep and Dodge)
Ford Motor Co ? (Ford, Lincoln and Volvo)

Sadly, the automobile also indicates related difficulties, like air pollution, the emission of gases leading to imminent global warming, visitors, not to mention fatalities. Nevertheless, the automotive industry is still an important source of employment and transportation for billion of people all over the world.

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