Automobile industry is a huge thing in 21st century.It is include wide range of companies and organizations.It’s not limited to any specific country or region and it spans the entirety of the planet.
Also the automobile industry is one of the world’s largest economical asset.
Most of powerful countries tend to involve this industry because they know, this is one of the key determinant of economical growth.
What is automobile or automotive industry?
Automobile industry is a business that producing self-powered vehicles to human purposes
As my resources the word (automotive) comes from the greek autos(self), and Latin motives(motion), referring to any kind of self-powered vehicle or an automobile.
History of automobile industry
Automobile industries history began with the revolutionary invention of first practical internal-combustion engine in 1860.
Later decades the German inventor Karl Benz produced gas-powered vehicle, That changed the industry because of its power efficient and less expensive to build.
In these decade the united states led the world total automobile production.
In 1914 “Henry Ford” began to mass produce automobiles using assembly lines. So this is the century that most leading automobile manufacturers are born.
After years, United States was overtaken by Japan and became world’s leader again.
Years later china came into the play and they took the leading spotAnd they doubled US production, by take down Japan into the 3rd spot.
Economy of automobile industry
The automobile industry is a major industrial and economic force worldwide. Because It makes millions of automobiles per year and employs over millions of peoples directly and many more indirectly.
But, industry have to responsible for almost half the consumption of oil.
You may know this burning fuel is one of the main thing that affect to the global Warming.
By the way the industry also provides good jobs with lots of benefits and this is one role in economic development among countries.
Top automobile assembly Companies
- General Motors (GM)
Largest automobile manufacturers in the world
As in the history each and every powerful country or company is trying to be the first. Also In 2019 Toyota, Volkswagen and Hyundai are the three leading passenger automobile manufacturers in the world.
Companies based in Europe , Japan , South Korea , United States and India, compete in this automobile industry.
Also the size of the manufactures we looking by count of units that they produced to world.
Safety and Regulations of automobile industry
These are the standards that implies to be aware of any danger, damage, risk or cause of injury.
As the other major industries, the this industry also subjected to vary of governmental regulations among every country.
Most of these regulations are related with automobile safety , emission, fuel economy and buyers protection.Also most countries now has their own safety standards.
Because, today many automobile manufacturers are making fully electric or hybrid powered automobile to with those standards to boost up their sales.
Automobile industry is major economical asset to most of countries.
And also, the history of this industry started in 1860, after the invention of internal combustion engine.After a decades industry became world most powerful industry.
Finally, I hope this article will help you to get good understanding about automotive industry and that you for reading this.