The automotive industry is one of the largest in the world because of its wide range of goods and services. The range of goods consists of the vehicles themselves and the items required to maintain or maintain them. The services are diverse – we would not have imagined our lives without the transport of emergency services, cars for different jobs, and other providers such as taxis. With so many different elements in the industry and our entire lives, the size of the industry has become quite significant.
In 2014, 72.2 million cars were sold worldwide
China and the United States are considered leaders in terms of sales. The United States became the leading car manufacturing country when Henry Ford introduced a production line in the early 20th century that allowed cars to be mass-produced. Ford Motors is still one of the world’s leading auto manufacturers. Its most popular model is the Ford Focus, which was the best-selling car of 2013. In terms of revenue, the world leaders in auto production are General Motors, Volkwagen and Toyota, while Bosch, Denso, Bridgestone and Continental are among the largest auto parts suppliers.
While the car industry in Europe is still recovering from the crisis
Demand for Asian and North American cars is quite logical, as car sales in Russia are falling sharply. By the end of 2015, car manufacturers worldwide are estimated to have sold 74 million cars, up 9 million from 2012. Manufacturers are targeting the Asian market in particular, where car sales have doubled in recent years. The specific countries where the car market is currently booming – Malaysia, India and Indonesia. In China, car sales have increased four-fold, reaching 19.7 million cars sold. The country has become not only the largest car manufacturer in Asia, but also the largest car manufacturer worldwide. China’s largest car manufacturer is a combination of General Motors, founded in 1997, and Shanghai General Motors, a SAIC Motor Corporation. Automotive leaders such as General Motors and Volkswagen are already enjoying the demand and revenue from the Asian auto market. Ford Motor estimates that demand in the Asian market will account for about 40% of all car sales in the next 4 to 5 years. It is said that investors will definitely invest money in this market as the Asian car industry is set for a bright future.
In 2013, 865 million cars were used worldwide and 65 million were produced in the same year. In 2014, 68 million cars and 22 million commercial vehicles were produced. It is estimated that by 2017 auto production will reach 100 million. If you look at this statistic, you can see that there has been a major decline in 2008 and 2009 as a result of the economic crisis.
Volkswagen is the world leader in car production
While Toyota is the leader in sales. Volkswagen has produced more than 9 million cars in the last year, but Toyota sales have been above 10 million, though Toyota’s production is about 2 million. The revenues of these companies are also quite significant. Volkswagen company earned € 202 billion last year and Toyota € 188 billion. They are followed by companies like Daimler, General Motors and Ford, but their income is less competitive.