The Automotive Industry
The automotive industry is a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles, It is one of the world's most important economic sectors by revenue.
The automotive industry has seen a significant amount of growth over the past decade. Challenges stemming from both economic and environmental factors have changed the way vehicles must perform, and automotive manufacturers have been required to take measures to adapt to them.
Many trends in this industry have come about that call for a change in automobile manufacturing practices, but the primary ones include:
- Enhanced safety requirements, such as those related to CO2 emissions
- The rise of new technologies, such as connective systems and autonomous vehicles
- Having to be cost-effective despite complex supply chains
- The increased need for transparency and good governance from automotive companies, such as during recalls on certain vehicles
- The growing demand for automobiles and the need to stay competitive
