The Influential Automotive Industry
Today, the global automotive industry has reached significant proportions, with some 73.9 million vehicles sold around the world in 2015 alone. In the United States, this sector of the economy remains very large. Automakers produced around 8 million vehicles annually in the USA between 2008 and 2012. Towards the end of 2012, some 786,000 workers in the USA held jobs in auto manufacturing or related auto component production firms, for instance.
Many companies strive to monitor new developments in the automotive industry. Since vehicles play such an important role in transportation, trends in this market impact many other businesses in the national and global economies.
- Global automotive market hit million unit sales with United States, one of the key markets clocking in million unit sales.
- The Elephant runs and the Dragon stumbles. China began flattening out with growth of around %, its slowest pace since 2012. India was the lone star among emerging economies, with strong growth of about %.
- Digital retailing of parts, service, and vehicles accelerated. BMW, Renault, and Volvo joined the online sales bandwagon.
- The Volkswagen Group's Dieselgate emissions scandal shook the automotive industry, leading to a greater focus on compliance with OEMs establishing new/independent compliance divisions.
- California drew up the first legislation that defines commercialization of autonomous vehicles. Three or other states are expected to follow over the next few years.
- The Mid-American Trucking Show March 31st through April 2nd, Louisville, Kentucky;
- The Auto Tech Expo April 7-9, Cincinnati, Ohio;
- The SAE World Congress and Exhibition April 12-14, Detroit, Michigan;
- The Automotive Aftermarket (AAPEX) November 1-3 (at the 2016 Las Vegas Trade Show Product Expo);
- The Performance Racing Industry Trade Show December 8-10, Indianapolis, Indiana.