Introduction to the automobile industry
Definition
The automobile industry consists of a wide range of companies and organizations involved in the designing and developing, of motor vehicles. It is considered as one of the world 's most important economic sectors in terms of revenue.
History of the automobile industry
The automobile industry, s inception began in the early 1890s with thousands of manufacturers that were the pioneers of the horseless carriage. For many years, the United States of America were the leaders of the world when it came to automobile production. In the year 1929, just before the Great Depression, the world had roughly 32,028,400 automobiles in use, and the United States of America automobile industry produced in the
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The automobile industry of India accounts for upto 21.8 per cent of the country 's manufacturing gross domestic product (GDP).
An ever expanding middle class, a very young population, and an ever increasing interest of the automobile companies in exploring the rural markets have made the two wheeler segment (with nearly 80 per cent market share) the leader of the automobile market in India. In India the overall passenger vehicle segment has 13.8 per cent market share.
In the 21st century India has also become a substantial auto exporter, with very good export growth expectations for the coming future. Various initiatives taken by the Government of India and the major automobile players in the Indian market are expected to make India a leader not only in the Two Wheeler market but also in the Four Wheeler market in the world by 2020.
Market Size
In India Sales of commercial vehicles grew at 5.4 per cent to 52,481 units in the month of January 2015 from a year ago, according to the Society of Indian Automobile Manufacturers
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In the year of March 2014 the multinational corporation consisted of about 338,874 employees around the world and as of November of 2014, it is considered to be the twelfth-largest company in the world by revenue. Toyota was the largest automobile manufacturer uptill 2012 in terms of production ahead of Volkswagen Group and General Motors. In July of the year 2012, the company posted the production of its 200-millionth vehicle. Toyota is considered as the world’s first automobile manufacturer to produce more than 10 million vehicles per year. This feat was achieved in the year 2012 according to OICA, and also in 2013 according to the data of Toyota. As of the year 2014, Toyota was the largest listed company in Japan in terms of market capitalization worth more than twice as much as the number 2 ranked company.
The company was founded by Kiichiro Toyoda in the year of 1937 as a spinoff from his father 's company Toyota Industries to create the company Toyota automobiles. Three years earlier, in the year 1934, while still a part of Toyota Industries, it created its first product namely the Type A engine, and, in the year 1936, it created its first passenger car which is the Toyota AA. Toyota Motor Corporation produces vehicles under 5 brands which includes the Toyota brand, Hino, Lexus, Ranz, and