Getting Excited about the Continuous Innovation in Automotive Industry

Certainly there is some exciting news for the Automotive Industry as the Automotive industry is marching towards a new high with some unique innovative ideas. If we go back to past few years then the history clearly indicates that there is a huge fluctuation in the growth of the industry, however now the European and Asian market is contributing a huge share for the development of the Automotive industry. In fact globalization also plays a vital role in expanding the business of Automotive industry. People also get acquainted with the latest Automotive industry news.

If we go back to the history, 1903 is the time when Henry Ford started his small automobile domain with an aim to convert the domain into a large scale factory. After a gap of almost 11 years Ford started to produce its own car in a bulk quantity to meet the expectation of costumers.

That was the right peak time when the popularity of Automotive Industry has increased exponentially. By that time technological advanced nations like German and Japan have gained momentum to be a part of the growing crowd and become able to a major player in the Automobile Industry. In today’s date Japan and German possess serious competitors to the entire Automobile manufacturing Nation.

In the recent time the latest and robust technologies has come across a long way to provide you the fascinating cars. All the major players of the Auto industry have gathered up to come up with some innovative ideas. Which stimulates to other industry players to manufacture their extreme cars with the most competitive budget. Almost after two years the hunk Automobile players become able to meet the expectation of tech savvy people.

Now with the ever increasing demand of the people and the over spreading of Internet and techno savvy customer it becomes a huge task for the Auto manufacturing players to cope up with the demand of their desire.

Customers and manufactures now become much quality conscious and prior to shop any Automobile Vehicle the buyers does a lot of homework regarding the quality and price aspect of the Vehicle, which they intent to buy.

With the every passing days market researchers are coming with some new and innovative ideas which helps the Automobile Manufacturing players to implement all those ideas to come up with latest features with their next project. TQM, Six-sigma, 5 S, Kaizen, just in time these are findings of the research which each and every Automobile players tries to implement with their upcoming projects.

Research reports clearly suggest that hybrid vehicles are something which is going to have a long road ahead. Also the growing demand has shifted to change the old damaged cars to brand new cars. As the fuel price becomes sky rocketed, people hesitate to buy luxury and sporting vehicles as these vehicles are consuming a lot of fuels. In fact to overcome the solution new technologies has evolved to provide the unique solution i.e. the new technologies will help in saving a lot of fuel for us.

 

In a nut shell we can come to a conclusion that the growing trajectory for Automobile industry will grow exponentially in spite of various hurdles.

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Continuous Innovations and Changing Trends in Automotive Industry

 

The global automotive industry is developing with increasing demand for new vehicles.  Automotive parts are either Original Equipment or aftermarket parts. From last few years there was fluctuation in the growth of automotive industry. U.S., Europe and Asian markets are contributing to a large extent in the development of automotive industry. Due to globalization, the pressure on manufacturers, suppliers, and the dependent businesses has increased. The demand and preferences of customers are changing with improved technologies in automobile industries. It’s a tough challenge for automobile industry to cope with ever-changing trends in the industry. Customers and manufactures are becoming more quality conscious. Market research reports determined new methods adopted by manufacturers for improving quality and productivity like assistance of computer design, production, and testing.

TQM, Six-sigma, 5 S, Kaizen, just-in-time etc. Use of these techniques has increased durability of parts which results in less need for repairs. Globalization has increased the competition in market which increased cost pressures on producers. Many producers had cut-off prices by using advanced techniques of productions and offered quality products at low price to the customers. National focus on volatility and environmental movement has increased the pressure on automakers to opt for alternative energy resources like bio-fuels, hydrogen, etc. During the recession phase automotive industry had suffered a lot. The production and sales decreased with shift in trends. The number of automobile manufacturers is increasing every year. 

In the present scenario the rates of internet savvy and techno savvy customers have increased. This in turn forced the global automobile industry to do technological innovations to survive in the market. Research reports have analyzed that in days to come the demand for hybrid vehicles may increase due to increase in fuel prices. Some growing trends in automotive industry are shift in demand from large vehicles to small vehicles and from high-consumption vehicles to fuel-efficient cars. New technologies were introduces in the industry like diesel hybrids, clean diesels, and hybrids, manufacturers became more customer centric. The challenges of automotive industry increased with emergence of globalization, new technology, change in customer demands and economic uncertainties. To overcome these challenges companies started investing more on research and development of existing technology. This was done to modify engines and producing more fuel-efficient vehicles and machines so that customers can save cost of spending on fuel as well as to increase the sales, profitability and market share. Fuel efficient vehicles like power and battery vehicles came into existence with innovations in technology. Manufacturers adopted production techniques like mass production, lean production and craft production to get benefits if economies of cost and reduce cost of production per unit. Major innovations made by manufactures in product offerings were improved transmissions and engine modifications which improved the operation level of engines. Businesses have been making continuous changes in their production methods and technology in order to serve customer needs, meet customer expectations, improve productivity, increase sales, increase market share and in all to sustain in the market. 

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