Characteristics of the Automotive industry in 2021
Features of the Automotive industry in 2021
Written by Muneer Mujahed Lyati
The automobile industry comprises of various wide range of organization and companies with several factors like designingꓹ manufacturingꓹ developing and selling of the motor vehiclesꓸ
The automobile industry is known as a major world’s economic sectors by revenueꓸ however various parts like tires and engines are excluded from it and several others or organizations or companies are not included in the maintenance of automobiles and fuel filling stations and repair shops.
The automotive industry consists of several main equipment consists of heavy and light equipmentꓹ heavy trucksꓹ .motor bike manufacturers. Dealersꓹ distributorsꓹ importers and wholesalers etc are also included in the automotive equipments.
The modern automotive industry consists of vehicles which are more complex with new techniques and technology. Various electronic and mechanical parts had been updated now with the modern techniques. Basically the companies in the automotive industries comprise of the car manufacturers and car parts manufacturers.
This industry also offers various employment opportunities in different sectors such as creativeꓹ financialꓹ mechanicalꓹ sales and technical. Globally various cars like Toyotaꓹ Hondaꓹ Hyundai etc are leading the world. The industry is changing day by day with certain modelsꓹ technologiesꓹ and materials.
Automatic industry value chain:
This automatic industry value chain covers all the range of activities of the product to its final delivery in the hands of the customer. However if the companies involved in the production of goods, their value chain began from the raw materials. All the processed down the value chain add value to the product till they are ready to be sold. A value chain analysis the problem and make better improvements in it.
The value chain of the automotive industry comprises of:
Designing and manufacturing- which deals with operations that covered the production stages. Mostly product is converted into raw materials. Some of the producers in the automotive industry had their operations scattered all over the places which helps them to save cost on shipping on various product.
Inbound logistics- they are known as the primary step in the production line. They include collecting of raw materials from other suppliers in various locations in it.
Vehicles services- vehicles services in a car are connected with various other devices.
Service- they are the last process in the automotive industry value chain which add value to any product in it. They also ensure various activities for giving various customer supports to a high number of customers.
Some of the primary activities in the value chain includes infrastructure, human resource management and information technology.
Advantages in automotive industry are-
The industry had a short time for selling purpose and marketing. The company should be allows to reach much clients with their new product.
Certain high cost lead to an indication that they are of high quality due to its customer needs
Some of the companies see forward on how the car will looks toward various information and factors and if theirs is a need for overstocking of the product.
There is a need for inventory management to keep check on the mobility needed by the modern automotive industry.
Some of the key terms in automotive industry:
Autonomous vehicle- This are self driving vehicle and offer various benefits like in low fuel consumption, increase mobility and also reduces breaks and crashes.
Electric vehicle- this vehicle is operated by electric motors using energy stored in rechargeable batteries.
Hybrid-electric vehicles (HEVs): this vehicles can used both electric and petrol for operating. The car’s braking system is used for recharge the battery.
Advanced driver assistance systems (ADAS): this technology makes the car to detect objects, and alert the driver of any hazardous road conditions.
Battery electric vehicle: they used electric for operating and an external electrical charging outlet for charging the battery.
Telematics: this method is used for monitoring the car with a GPS system. While operating the car one can exactly map and record where the car is and how fast it is travelling and behaving.