Car industry growth and development - A deeper insight

Car industry growth and development - A deeper insight

The word Automobile originates in Greek and Latin, and it has become an integral part of every mans life. It has become so indispensable that you spend an average of at least 3 hours in your vehicle every day. Automobile was once thought of as a luxury and only a few could recover. Now times have changed and cars have become a way of transporting catering to the vast majority.

The transformation from luxury to inevitability. Cars, generally, refer to the humble car and estimates indicate that there is a car for every eleven people on earth, which is up to 590 million cars. There are different variants of cars that cater to every cross section of the population. There are variants that can set you back with a couple of million dollars and other models that cost you a few thousand dollars.

The technical progress in the automotive industry has been enormous over the past 100 years. Centurys biggest invention or progress should definitely belong to the automotive industry. One of the oldest pioneers in the automotive industry was Ransom Olds from Oldsmobile Factory. At the beginning of the 20th century he introduced the production line concept, which led to the fact that vehicles run a few minutes. This idea was revolutionized and implemented strongly by Henry Ford, which increased the automotive industry to the next level. Ford grew rapidly in the first half of the 20th century and slowly but continually spread globally.

Growing along with time. With increasing age, the automotive industry gradually grew in continental Europe and England. Japan introduced quality initiatives as a further improved industry. Toyoto from Japan was the pioneers of Total Quality Management and Six Sigma, which have been the leading principles for the automotive industry for the past 50 years. Today Toyoto is the worlds largest car company according to the latest market valuations.

The global boom in the 1980s was largely due to the automotive revolution. Ford, General Motors and Chrysler, the big three cars in America, had a huge talk about the countrys economy. They determined the health of the economy and the recent global economic recession have hit them badly. This has led them to approach the government for loans and benefits, which have been met by the government after introducing appropriate clauses.

The emergence of technology and innovations. Automobile has transitioned from being a medium of transport to a medium of entertainment after the advent of super fast-moving vehicles competing against each other. NASCAR and F1 competitions are huge public coaches every year. People have succeeded and drivers of these machines have made their name in history. The fact that racing carries huge costs has made the racing industry roll during these uncertain economic times. In some cases, sport has experienced tragedies with a loss of life. This has made room for strict safety regulations, which are now mandatory for all car shows.

The negative part. Although the man has made a big step forward with cars, there is a disadvantage for this technical wonders. Emissions from these machines have caused serious environmental concerns with requests for more environmentally friendly vehicles. Car companies have invested enormously in research and development of environmentally friendly vehicles. Apart from this only disadvantage, the least doubt is that cars have been in the last century.

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