Automotive

Automakers report higher Q2 car sales in US

Leading automakers reported a jump in quarterly US car sales Wednesday, reflecting increased vehicle inventory levels and the support of a strong US labor market.

Automotive

Toyota full-year net profit beats forecast

Top-selling automaker Toyota said Wednesday that its full-year net profit beat expectations and projected better sales and revenue for the year ahead as supply chain disruptions ease.

Automotive

Top-end models drive Mercedes profit growth

Mercedes-Benz said Friday its net profits rose by 12 percent in the first quarter to 4.0 billion euros, buoyed by demand for its vans and priciest premium cars.

Automotive

Volkswagen unveils electric luxury sedan at China auto show

Volkswagen unveiled an electric luxury sedan that promises a 700-kilometer (435-mile) battery range as global and Chinese automakers displayed their latest SUVs, sedans and muscle cars Tuesday at the world's biggest auto ...

Business

Ford shares fall as Q4 profits lag estimates

Ford reported an annual loss Thursday following disappointing fourth-quarter earnings that reflected what it called execution problems that marred performance.

Bosch plans $1-bn Chinese electromobility site

German engineering group Bosch on Thursday unveiled plans to invest around $1.0 billion in a research and development centre in China for electromobility and automated driving.

Automotive

Ferrari sales, earnings guidance shift higher

Italian luxury sports car manufacturer Ferrari said Wednesday it had raised its 2022 earnings guidance after posting double-digit gains in sales and earnings.

page 2 from 6

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