Automotive

Stiff EPA emission limits to boost US electric vehicle sales

The Biden administration is proposing stiff new automobile pollution limits that would require up to two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle ...

Automotive

Volvo's shares up after record first quarter profits

Volvo Group's shares were up seven percent Wednesday after the Swedish truck-maker posted record first-quarter earnings, in a sign of an easing of supply chain disruptions and high costs that have plagued the auto industry.

Automotive

Germany threatens to hold up EU's combustion-engine car ban

Germany's transport minister said Tuesday that his country won't back a planned European Union ban on the sale of new cars with combustion engines from 2035, after failing to get assurances from the bloc's executive for an ...

Electronics & Semiconductors

GM reaches computer chip supply deal with GlobalFoundries

With the global shortage of semiconductors still crimping U.S auto production, General Motors has signed a deal with chipmaker GlobalFoundries to dedicate part of an upstate New York factory to supply the automaker.

Internet

Delta's free WiFi, Sync platform point to more connected future

Delta Air Lines Inc. on Wednesday launched free WiFi on 75% of its domestic mainline aircraft, an early step toward its overhaul of in-flight entertainment in favor of personalization and free services like Paramount+ streaming, ...

Automotive

Toyota to replace Akio Toyoda as president and CEO

Toyota named Koji Sato president and CEO on Thursday, in a surprise reshuffle that sees third-generation chief executive Akio Toyoda step aside to become board chairman of the world's top-selling automaker.

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Automotive industry

The automotive industry designs, develops, manufactures, markets, and sells the world's motor vehicles. In 2008, more than 70 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 USA and Canada, 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, India and China saw the most rapid growth.

About 250 million vehicles are in use in the United States. Around the world, there were about 806 million cars and light trucks on the road in 2007; they burn over 260 billion gallons of gasoline and diesel fuel yearly. The numbers are increasing rapidly, especially in China and India. In the opinion of some, urban transport systems based around the car have proved unsustainable, consuming excessive energy, affecting the health of populations, and delivering a declining level of service despite increasing investments. Many of these negative impacts fall disproportionately on those social groups who are also least likely to own and drive cars. The sustainable transport movement focuses on solutions to these problems.

In 2008, with rapidly rising oil prices, industries such as the automotive industry, are experiencing a combination of pricing pressures from raw material costs and changes in consumer buying habits. The industry is also facing increasing external competition from the public transport sector, as consumers re-evaluate their private vehicle usage. Roughly half of the US's fifty one light vehicle plants are projected to permanently close in the coming years with the loss of another 200,000 jobs in the sector, on top of the 560,000 jobs lost this decade. As a result, in 2009, China became the largest automobile market in the world.

This text uses material from Wikipedia, licensed under CC BY-SA