Automotive industry statistics show that the largest market is Asia Pacific. The US has lost ground since 2016 with vehicle production declining by 27.7%. Carbon fiber is a labor-intensive material. Sales of private vehicles are set to decrease, as shared mobility services expand. But how much will this change? The following facts will provide some perspective. Let’s look at some of the key trends. And what are the implications for the industry? We’ll look at trends in the US, Europe, and Asia.
Asia Pacific is the largest automotive market
With its massive population and thriving economies, Asia Pacific is a top destination for automotive manufacturers. The region is home to some of the world’s most valuable vehicle manufacturers, including Toyota, Honda, and Hyundai. Sales of passenger vehicles in the region generate enormous revenue for the automotive industry. Many automakers are investing heavily in research and development and market-specific media insights. Communicators must work closely with their marketing and communications counterparts to create integrated campaigns that promote their brand and products.
The report uses a variety of primary and secondary sources, including financial reports, national government documents, and a statistical database. Major companies included in the report include Aptiv PLC, Continental AG, Denso Corporation, Hitachi, Ltd., Pektron, Robert Bosch GmbH, and ZF Friedrichshafen AG. There are several other companies listed in the report, including Veoneer Inc. and Transtron Inc.
US vehicle production has fallen by 27.7% since 2016
After the auto industry, manufacturing accounts for less than 12% of the U.S. … READ MORE ...