Since the early days of human civilization, the automotive industry has grown to become one of the largest industries supporting the Malaysian economic growth. Now, there are over 20 manufacturing and production plants in Malaysia, where automotive products, motorcycle engines, passenger vans, etc. are produced. In this article, we will discuss some of the significant players in the industry, their business background and position, and outlook for the future. We will also take a brief look at some of the challenges the industry is facing.
The Automotive industry comprises of two main categories-those manufacturing passenger cars and commercial vehicles. Both these categories face a unique set of challenges. Car manufacturing is an extremely specialized science, involving multiple technologies and advanced machinery. The number of technology and machines required is limited. Automotive industries have a limited number of workshops. They usually assemble vehicles and perform specific job like welding, nail-baking, etc., at a single location.
Automotive industries manufacture passenger cars mainly. This segment has a high demand for skilled manpower, sophisticated tools, and high quality equipment. Automobile companies conduct factory tours to show the process and technology used in manufacturing cars. These factory visits are an excellent platform for prospective employees to know more about the responsibilities, benefits, and scope of the organization.
Some of the largest manufacturers of automobiles include Ford, General Motors, Toyota, Honda, Nissan, Renault, Citroen, Hyundai, Mazda, and SeaTac. There are many other brands including those from Europe, Japan, South Korea, Thailand, and the United States. Japanese manufacturers Nissan and Toyota are the world’s two largest automobile manufacturers. The U.S. based Honda Motor Company along with the Korean carmaker Hyundai are also some of the world’s leading automobile manufacturers.
Automotive industries provide a lot of employment opportunities to the people residing in the cities. The number of garages and workshops available is also enough to employ large numbers of people. It is estimated that there are over six million jobs in the automotive industry in the United States. The rising price of new vehicles and accessories has added to the inflation in the cost of manufacturing and selling cars. This is why there is a definite increase in demand for these products in the market.
Major automotive manufacturers include Ford, General Motors, Toyota, Honda, Nissan, Renault, Citroen, and Seatiac. Ford owns Fords, Lincoln, and Mercury. General Motors owns Chevrolet, Cadillac, and Dacia. Toyota and Nissan produce both passenger and light trucks. The list of automobile manufacturers is quite long but they all have a common aim and objective of making profits.
Automobiles are becoming more technologically advanced. Self-driving vehicles that drive themselves across town are now possible. This technology has the potential to completely change the automotive industry. In fact, many automobile manufacturers are already exploring the use of such autonomous vehicles in their business operations. These vehicles can sense the road environment and brake, drive and control their surroundings with the help of artificial intelligence.
The future of the automobile industry lies on self-driving and robotic vehicles. The potential applications of such technologies are vast. From delivering products to individual consumers to managing entire production plants, the automobile industry will witness a sea change within the next few years. Experts believe that in the next ten years, the majority of the world’s light trucks and passenger automobiles would be powered by some form of autonomous technology.
Automobile manufacturers worldwide are scrambling to find new markets for their motor vehicles. Automotive companies in the United States alone are focusing on China, Japan, and South Korea as new markets. China, Japan, and South Korea represent the largest markets for passenger automobiles in the world and offer the largest market size for light trucks. Given the current climate for the automotive industry worldwide, it is expected that new markets for automobiles will emerge in North America very soon.
The future of the mobility industry looks strong. The global economy has resulted in an increase in the buying power of many people around the world. This has encouraged automotive manufacturers around the world to build factories and produce more cars and trucks in order to meet this growing demand. The global automotive industry will also continue to expand as electronic industries continue to develop new technologies that will dramatically alter the way we travel and live in the future.
Automotive companies throughout the United States are working together to develop new technologies. One such technological change is the use of computers for complex programming and vehicle maintenance processes. The combination of technology and automation will result in a dramatic increase in the speed and accuracy of vehicle and engine maintenance as well as an increase in overall vehicle performance. The combined effect of these changes and trends will have a significant impact on the automotive industry over the next few years. Given the pace and magnitude of these trends, it is very likely that the Automotive industry will experience a number of mergers and acquisitions within the next five years as part of this consolidation.