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.
Brazil is a major player in the global manufacture of automobiles with an almost 3 million vehicles produced in the year 2007. Most of large global companies have their presence in Brazil. As of the year 2008, UK is the 12th largest automobile producer in the world but Russia is fast approaching and has the potential to overtake it. The British motor industry has always utilized the export market. Today its work force is around 850,000 people and produces about 1.5 million cars and 216,000 commercial vehicles per year. Three quarters of these are exported. Among the top five UK car producers are Nissan, Toyota, Honda, MINI and Land Rover. However, international competitiveness of UK cars has declined consistently since the 1990s and the country became unable to sustain production as compared to either Germany or France. Since the year 2000, motor vehicle production fell significantly from 1,813,894 to 1,750,253. The countries that posed the challenge in this regard were emerging economies like India, Mexico and Brazil.
The automotive industry more recently is having a global recession as part of the global financial crunch and the pressure is being felt even by the giants of this industry. The world may witness quite a few surprise losers in this regard. However, it is hoped that the resilient automotive industry, which has in the past faced severe fiscal challenges, has the capacity and will to fight back and come out of this serious phase of recession.
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Article Source: EzineArticles.com/expert/Brenda_Williams/177954
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