Automotive industry development

The term “Automobile” has its origins in Greek and Latin and is now an integral part of man’s existence. It is now so essential that, on average, an individual spends at least 3 hours in his car each day. Cars were initially thought of as something only the elite could enjoy. Nowadays, the rules have changed and cars have evolved into a mode of transport that caters to the majority of.

The shift from luxury to inevitable

Automobiles generally are the simplest car and the estimations indicate that there is one car for every 11 people on the planet, which amounts to 590 million cars. There are a variety of cars that are suited to every segment of people. There are models that can cost you several million dollars, while other models could cost only a few thousand dollars.

The technological advancements within the auto industry have been awe-inspiring over the past 100 years. The century’s most significant invention or breakthrough should certainly be in the automotive industry. One of the early automotive pioneers was Ransom Olds of his Oldsmobile factory. At the beginning of 1900 Ransom Olds came up with his Production Line concept, thus making vehicles in a matter of minutes. The concept was radicalized and was implemented in the early 1900’s by Henry Ford, who elevated automobile manufacturing to the next level. Ford rapidly grew during the early part of the 20th century. It grew slowly, but surely spread across the globe.

The pace of change is increasing with the passage of time.

As time passed the auto industry slowly increased in the continent of Europe as well as England. Japan launched quality programs, which further boosted the business. Toyoto from Japan was the first to introduce Total Quality Management and Six Sigma that have served as the foundational principles of the automotive industry for over 50 years. In the present, Toyoto are the world’s largest automaker according to market research estimates.

The economic boom that swept the world in the 1980’s was mostly because of the automotive revolution. Ford, General Motors and Chrysler the three major automobile giants of America have a significant influence on the nation’s economy. They weighed in on the state of the economy and the global recession has had a devastating impact on them. This led them to approach the government for aid and loans that have been complied with by the government after putting in suitable clauses.

Technology and innovation are on the rise.

Automobiles have evolved from transport mode to an instrument of entertainment thanks to the rise of super fast cars racing against one another. NASCAR or F1 races are massive draw for fans every year. There have been fortunes made and the drivers of these vehicles have been able to make their mark throughout history. The fact that auto racing is expensive has made the racing industry reel during the current economic uncertainty. It has also seen tragic events that have resulted in the loss of lives in some cases. This has created room for strict safety standards that are now required for all auto shows.

The negative

While man has made an enormous leap forward in the field of automobiles, there’s an issue with this amazing technology. The emission from these vehicles are causing serious environmental issues and calls for greener automobiles. Automobile manufacturers have made huge investments in the research and development of environmentally friendly automobiles. Apart from this single drawback, there are no doubt that automobiles are the most significant invention of the last century.

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