Automobile Manufacturing Industry Profile

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Excerpt from Automobile Manufacturing Industry Profile

Companies in this industry engage in manufacturing complete automobile and light duty motor vehicles, as well as vehicle chassis only. Major companies include Ford, General Motors, and Tesla (all based in the US); along with Honda and Toyota (both based in Japan); SAIC Motor (China); Stellantis (the Netherlands); and Volkswagen (Germany).

The world's automakers face a rate of change unlike that of any other time in the industry's history. Digitalization, connectivity, evolving powertrain technologies, tougher regulations, and shifts in consumer attitudes have created unprecedented challenges as well as opportunities. In pursuit of sales growth, global automakers have invested heavily in emerging markets, but slower demand, especially in China, has highlighted the risks of these investments. Accurately assessing economic conditions in specific markets has become more important than ever for automakers.

Annual global unit sales of light vehicles, which include passenger cars and light trucks, total about 74 million, according to data compiled by Scotiabank. Industry watchers expect global light vehicle sales to be flat in 2019. Demand in China will lead global growth but is slowing amid a cooling economy. North American demand is expected to dip slightly in 2019, while European sales are expected to remain at 2018 levels. Leading countries for car manufacturing include China, Germany, Japan, South Korea, and the US. Unit sales are highest in China, North America, and Western Europe.

The US automobile manufacturing industry includes about 230 establishments (single-location companies and units of multi-location ...

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