The automotive industry is a massive industry spanning the design, development, production, and marketing of motor vehicles. It is also one of the largest industries worldwide, and the industry is responsible for the largest amount of research and development spending per firm. As such, it is a burgeoning market, and many people are considering careers in this industry. But what exactly is this industry? What are some of the jobs available in this field? Below, we’ll discuss some of the top ones.
The first petrol engine-powered automobile was invented in 1885. Today, the world’s automotive market is over 1.4 billion cars strong. One-quarter of these vehicles are built in the United States. It is estimated that the number of cars will surpass 1000 million by the end of this century. This is a massive industry, and as oil reserves decline and environmental concerns rise, it is expected to undergo major changes. The industry is now split into small segments, with new cars introduced more often.
The automotive industry’s value chain encompasses companies that produce and market vehicles. While this industry does not include tire manufacture, fuel and batteries, it is largely focused on passenger automobiles and light trucks. Commercial vehicles, on the other hand, are a secondary part of the industry. The automobile is an essential product, and modern designs and engines are discussed in the automotive industry. The evolution of the automobile is covered in transportation history, which outlines the genesis of this industry.