Automotive Industry

The automotive giants like General Motors, Ford, Daimler-Chrysler, BMW, Navistar, Paccar-DAF, Volvo, Toyota, Nissan, Honda, Subaru, Mazda, Mitsubishi and Isuzu are among the major contributors towards the production as well as the economy. The automotive industry designs, develops, manufactures, markets, and sells the world’s motor vehicles. It also provides genuine after sales parts.

In 2007, more than 73 million motor vehicles, including cars and commercial vehicles were produced worldwide and 71.9 million were sold worldwide: 22.9 million in Europe, 21.4 million in Asia-Pacific, 19.4 million in USA and Canada, 4.4 million in Latin America, 2.4 million in the Middle East and 1.4 million in Africa.

The markets in North America and Japan were stagnant, while those in South America and Asia grew strongly. Of the major markets, Russia, Brazil, India and China saw the most rapid growth.

About 250 million vehicles are in the United States. Around the world, there were about 806 million cars and light trucks on the road in 2007; they burn over 260 billion gallons of gasoline and diesel fuel yearly. The numbers are increasing rapidly, especially in China and India. In 2008, with rapidly rising oil prices, the automotive industry is experiencing a combination of pricing pressures from raw material costs and changes in consumer buying habits. Since the consumers are re-evaluating their private vehicle usage, the industry is also facing increasing external competition from the public transport sector. Read the rest of this entry »

People now have access to the best in terms of home appliances, offices and automobiles. Digital components have made life very easy for individuals. Things that were expensive at a time are now available within our budgets, and automobiles are one of those. There are certain situations that have bought sudden changes in the automotive industry.

Unstable financial markets, rising fuel prices, and increasing taxes are some of the problems faced by the automobile industry. The U.S. economy and weak dollar conversion rates have contributed to the increase in crude oil prices. This has a direct impact on the automobile industry.

Automobile users have not changed their approach towards purchasing fuel and petrol despite the growing fuel prices

Effect Of Rising Prices On Automobile Users:

Environmental issues are not important for auto users. They are unaffected by the rising fuel costs and are prepared to continue driving.

Car manufacturers and dealers have seen a marginal loss in the sales of vehicles. European and American markets have reported huge losses in the automobile industry. There is an increase in used car sales and decrease in new car sales. Sales of automobiles are on the rise via the Internet. Manufacturers have to switch to the World Wide Web medium to increase the sales. Read the rest of this entry »

The British vehicle manufacturing industry leads Europe with over forty companies producing cars, trucks, vans and buses, with additional international companies manufacturing the necessary components for those vehicles. The Automotive Industry represents 13% of Britain’s total exports, and it provides over 180,000 jobs and contributes approximately 10.2 Billion Pounds to the UK economy.

In support of these manufacturing enterprises, numerous retail, service, maintenance and finance sectors assist in the smooth running of the total industry. There are a number of car leasing and car finance companies, such as Pendle Vehicle Contracts, that provide an important and necessary service to the industry. In 2009, it was reported that this sector generated 24 Billion Pounds in value added services and products to the UK economy and employed over 552,000 people in full time employment.

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