Automobile Industry and Its Impact on Economy

Quite latent from public views, but the motorsector is regarded as one of the major economic and industrial force all across the globe. This arcadeengages itself in manufacturing millions and trucks and auto motives that consume almost half the oil that is produced in this planet. This is not all as the market both directly and indirectly, affects the employments of millions of people. In short, it can be said that the role which the automobile arcade plays is phenomenal. It is also probably one of the fastest growing sectors, and there is much hype about selling and renting of cars. Buying used carriages have increased even when the economy is down. Market research that studies the trends prevalent in the motorsegment suggests the fact that with a bit of regular care and maintenance, wagons that are manufactured today can last more than ten years. This indicates the fact that buying used cars two and four wheelers is not a gamble anymore that it used to be. Contribution in the Economy Motormarketplace is the primary driver of the macro economy for growth and stability of the country. Core auto industry like part makers and vehicles also support a varied range of markets that is both upstream and downstream. This initiates growth multiple segments of the industry. Its contribution in the industry is mainly on: Revenue Generation: This motor commerce...

Read More