World Auto Industry

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World auto industry is turned to developing markets

With developed markets almost saturated, world auto industry is now focused on developing markets of South America and Asia, and Eastern Europe with special emphasis on BRIC (Brazil, Russia,India, and China).

As per reports of International Organization of Motor Vehicle Manufacturers or OICA(the association of the companies involved in World auto Industry), for fiscal end in 2006, auto manufacturers in U.S. have been overtaken by those in Japan, in terms of total volume of auto units manufactured worldwide.

However, struggling General Motors of U.S. still remain worldwide leaders of world auto industry, ahead of rapidly growing Toyota Motor Corporation of Japan, by a substantial margin.

Measures to be adopted by global leaders of world auto industry

Several significant economic measures are being considered by major players of world auto industry in order to make a smooth entry into markets of developing countries, and to make a name for themselves. Effective measures include :

  • Reducing selling prices of cars manufactured in their factories
  • Improving levels of after-sales services to keep customers satisfied
  • Opening manufacturing factories in developing nations, to reduce effective costs of production as well as saving shipping charges, and enhancing prompt delivery of auto units.

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