The automobile industry is a huge thing in the 21st century. It includes a 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 economic asset.
Most powerful countries tend to involve this industry because they know, this is one of the key determinants of economic growth.
What is an automobile or automotive industry?
The 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 the automobile industry
The automobile industry’s history began with the revolutionary invention of the 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 this 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, the United States was overtaken by Japan and became the world’s leader again.
Years later china came into the play and they took the leading spot they doubled US production, by taking 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 much more indirectly.
But, the industry has to responsible for almost half the consumption of oil.
You may know this burning fuel is one of the main things that affect 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 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, the United States, and India, compete in this automobile industry.
Also the size of the manufacturers we looking by the count of units that they produced to the world.
Safety And Regulations Of Automobile Industry
These are the standards that imply to be aware of any danger, damage, risk or cause of injury.
Like the other major industries, this industry also subjected to vary of governmental regulations among every country.
Most of these regulations are related to automobile safety, emission, fuel economy, and buyers protection. Also, most countries now have their own safety standards.
Because today many automobile manufacturers are making fully electric or hybrid-powered automobiles with those standards to boost up their sales.
The automobile industry is a major economic asset to most of the countries.
And also, the history of this industry started in 1860, after the invention of the internal combustion engine. After a decades industry became the world’s most powerful industry.
Finally, I hope this article will help you to get a good understanding of the automotive industry and that you for reading this.