Automobile Industry
1. Automobile Industry Introduction
The automotive industry is the industry involved in the planning, design, development, manufacture, and marketing. The automobile industry is concerned with profits and competition; with consumer demands for styling, safety, and efficiency; and with labor relations and manufacturing efficiency. In 2007, more than 73 million motor vehicles, including cars and commercial vehicles were produced worldwide.
In 2007, a total of 71.9 million new automobiles were sold worldwide: 22.9 million in Europe, 21.4 million in Asia-Pacific, 19.4 million in North America, 4.4 million in Latin America, 2.4 million in the Middle East and 1.4 million in Africa. The markets in North America and Japan were stagnant, while those in South America and Asia grew strongly. Of the major markets, Russia, Brazil and China saw the most rapid growth.
The years of 2004 through 2006 will long be remembered as a pivotal period in the automobile industry. It was a period during which high gasoline prices started a sea change among U.S. consumers that is finally creating significant demand for fuel-efficient vehicles. Gasoline prices of approximately $2.00 per gallon started taking a huge bite out of family budgets in 2004, and many middle-class consumers who owned fuel guzzling SUVs and pickup trucks began to wish they had vehicles that were much less expensive to operate. By 2005-2007, with gasoline prices in the $3.00 range, the party was over for traditional, large SUVs. In 2008 gasoline prices rapidly have reached over $4 a gallon..
2. Toyota’s Prius hybrid car
The Toyota Prius [ˈpri.əs] is a hybrid electric mid-size car developed and manufactured by the Toyota Motor Corporation in 1994. The Prius first went on sale in Japan in 1997, making it the first mass-produced hybrid vehicle. It was subsequently introduced worldwide in 2001. The Prius is sold in more than 40 countries and...
Please login to view the full essay...