Be it for functional purposes or fancy cravings, the automobile industry claims to have robust sales in the global market. Shares might have dipped due to Corona, but the industry is all set to bounce back and has some awesome figures speaking for it in the coming years. Top brands continue to retain their niche market by adapting and adopting changing global needs.
Automobile industry comprises all those companies and activities involved in the manufacture of motor vehicles, including most components such as engines and bodies, but excluding tires, batteries and fuel.
An advanced machine with futuristic features is the dream of every rich man.
Fancy automobiles like
Porsche are all high end cars that men of vast wealth acquire and collect.
Of course, there are classic, vintage, special-edition cars that they collect to satiate their vanity.
There are also high-profile bikes like the
Harley Davidson, which is a collector’s delight.
There was a line on the internet which defined the ultra-posh mean machines. It says bikes are all about the power between the legs.
Well, the cheeky statement apart, cars and bikes mean big business as they endorse a certain level of lifestyle and are symbolic of the wealth and power of the owner. Little wonder that such mean machines are published by celebrities who can afford them and also maintain the lifestyle for their upkeep.
Today, the world’s latest fad is over electric cars. Owing to environmental concerns, the world is leaning towards eco-friendly electric cars. Here, Elon Musk’s Tesla leads the pack and has already started selling its premier product. Little cars or fancy cars, the idea is to have a car that celebrates one’s lifestyle says Business Strategist Hirav Shah.
The market is vast and more and more people in third world countries are into adding fancy cars to their garage. Even as environmental debate rages on, this crust of people who have the capacity to splurge are investing in the automobile market, increasing the demand for high-end cars, which are flaunted as status symbols. The world is also in a rush to produce self-driving cars and this could be a game changer in the industry in coming years. “Power to splurge and a market full of fancy babies is irresistible to many who have the capacity to buy and spend on the upkeep of mean machines,” says corporate consultant, business advisor, astro-strategist and corporate guru Hirav Shah.
Let’s check out some FAQs related to the Automobile industry
1) How does one define the automobile industry?
The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. The word automotive comes from the Greek autos (self), and Latin motivus (of motion), referring to any form of self-powered vehicle.
2) How does the automobile industry work?
The automobile industry is supported by various factors such as availability of skilled labour at low cost, robust R&D centres, and low-cost steel production. The industry also provides great opportunities for investment and direct and indirect employment to skilled and unskilled labour.
3) Why is the automobile industry important?
The automobile industry is a capital-intensive and knowledge-intensive industry, plays an important role in the country’s socio-economic development. Cars are one of the world’s largest export products, surpassing oil revenues.
4) Which is the richest car company in the world?
Tesla is now the world’s most valuable car company with a $208 Billion valuation. In fact, a surge in Tesla sales has led to Elon Musk becoming the richest man on earth, after Jezz Bezos.
5) Which are the world’s top automobile industries?
1) Tesla, Inc.
2) Toyota Motor Corporation.
4) General Motors Company.
5) Daimler AG.
6) Honda Motor Company, Ltd.
7) Bayerische Motoren Werke AG (BMW).
8) Ford Motor Company.
9) Ferrari NV
10) Hyundai Motor Company
6) Is the automobile industry on an upward trajectory?
The global automotive motors market size is projected to grow from USD 20,321 million in 2020 to USD 25,719 million by 2025, at a CAGR of 4.8%. More automotive motors supporting all features in the mid and lower segment vehicles would boost the demand for during the forecast period.
7) How can automobiles help the economy?
Let’s consider the case of the US: A robust auto manufacturing sector is vital to a healthy US economy. Autos drive America forward by supporting a total of 9.9 million American jobs, or about 5.1 percent of private-sector employment.
8) Who owns the world’s most expensive car?
Cristiano Ronaldo buys world’s most expensive car, a Bugatti La Voiture Noire. Cristiano Ronaldo will be one of 10 lucky owners of a car that is worth nearly $18.68 million or Rs 132 crore.
9) What is the richest car company in the year 2020?
The Toyota marque was ranked as the world’s most valuable car brand in 2020, with a brand value of roughly 28.4 billion US dollars. However, Toyota’s brand value declined by about three percent year-on-year.
10) Which are the top manufacturers of cars in India?
■ Maruti Suzuki. The unparalleled winner of automobile manufacturers in India is Maruti Suzuki.
■ Hyundai India. Hyundai Motor is the second largest automobile manufacturer in India.
■ Tata Motors. Tata Motors is another auto-giant in India.
■ Mahindra & Mahindra.
■ Honda Cars.
11) What is the future of the automotive industry?
In future, one will be able to communicate, work, surf the internet or access multi-media services during the ride. Electrified, autonomous, connected and shared cars will lead to a clear increase in the rate of innovation within the automotive industry.
12) Is it good to invest in auto shares in India?
The share prices of some of the most prominent automobile companies have dropped over the past one year. Sure, they may not give you immediate or short-term gains, but companies like Maruti Suzuki, Hero MotoCorp, Bajaj Auto and MRF are good, safe shares to invest in for the long run.
13) What factors influence the automobile market?
Economic factors include interest rates, disposable income, unemployment rates, retail price index, inflation, gross domestic product (GDP) and exchange rates.
14) What are some of the rarest cars in the world?
a) 1962 Ferrari 250 GTO. There are lots of priceless, money-can’t-buy Ferraris, but the 250 GTO is the cream of the crop.
b) 1955 Mercedes 300SL Gullwing.
c) 1970 Porsche 917.
15) Who owns India’s most expensive car?
We all know about Amitabh Bachchan and his awe-inspiring garage of luxury models. Known as the Shahenshah of Bollywood, it comes as no surprise that Amitabh Bachchan is the owner of the most expensive car in India – the Rolls Royce Phantom VII that can be had at the price of Rs 3.5 Crore in India at that time.
16) Which is India’s first home-made car?
The automobile that holds this important place in India’s motoring history is actually the Hindustan 10, which was a rebadged Morris 10 Series M from Britain that was assembled by Hindustan Motors Limited in a small facility in Port Okha, Gujarat, beginning in 1949.
17) Who owns the most cars in the world?
The car collection of the 29th Sultan of Brunei is the largest private car collection in the world, consisting of approximately 7,000 cars which have an estimated combined value over $5 Billion USD. The 29th Sultan of Brunei, Hassanal Bolkiah, is one of the last absolute monarchs of the modern era.
18) Which Automobile stocks are best to invest in 2021?
Auto stocks could be big winners in 2021. Auto stocks have been some of the top-performing stocks in the market in 2020 despite a bumpy road this year for the industry, shares corporate business expert Hirav Shah.
Here’s a list of companies you can invest in:
● Toyota Motor Corp
● General Motors Co
● Honda Motor Co
● XPeng (XPEV)
● Ford Motor Co.
19) What is the growth rate of the automobile industry?
The growth rate of the automobile industry across India was estimated to be 4.9 percent from fiscal year 2015 to 2020, down from about 5.5 percent from fiscal year 2010 to fiscal year 2015.
20) What is India’s automobile market worth?
Indian automotive industry (including component manufacturing) is expected to reach Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026.