Driverless and other automation technologies are things to be watched in the auto industry
Best sales figures in the automobile sector are one of the few good things that happened before the global economic downfall in 2008-09. In the year 2006, the global sales of automobile around the world reached new “never-before” numbers. Similar healthy days for the industry are expected to return by the end of 2015 as major automobile companies are looking forward to a profit-making balance sheet. In the US alone, the sales are estimated to touch 17 million units as there is a renewed consumer confidence, better access to credit facilities and an upward looking economy. The scenes are quite alike for the global automobile industries as well. Hence, automakers around the world are working confidently in order to leave behind the dreadful times of the economic slowdown and touch a further peak in the sector.
“According to the new US regulations, vehicles must average 34.1 miles per gallon”
Although the global automobile industry might seem to be all hunky-dory, the realism is far away indicating to a different story. Most of the markets around the globe are either on a decline or struggling to make a comeback. Region wise stats mentioned below:
Northern America- The region is believed to be the best for automobile industry as it is predicted to have the maximum results. A robust market is assumed and the business is predicted to cross 18 million units up from the previous best of 13 million in the year 2008.
Southern America- in contrast to the northern region, the southern part of America is witnessing a dull period with the sales plunging a massive 15% since August, 2014.
Russia- Russia auto industry is more like the South American market as slow economy and declined demands have bought the sector down by almost 25% since August, 2014.
Europe- Just like other sectors, the car industry is also likely to weaken in the region due to the long haunting economic disturbance (the six-year slump). Although the behavior of the industry in UK is completely opposite as it is growing lush green and is set to break all time records in sales by the finish of 2017.
Asia: India- Being the fastest growing economy in the region, the industry in India is expected to flip over big time. There is entry of a number of big manufacturers. Yet according to experts the sector is more likely to be inconsistent at least in the near future with testing times for the automobile brands.
China- The mood is dull in the world’s largest auto market; the sales are expected to fall due to several reasons. Even though the investments in the industry is predict to peg-up as the Original Equipment Manufacturers (OEMs) are planning to pump-in money the future demands are set to slide down.
Vehicular automation and after-sales service are two massive factors that are tend to dictate terms in the automobile industry. Hence, companies around the sphere are dropping in huge money in research and development activities and paying special attention in the manner they treat their customers. Quick service with quality optimization is the key for the future.