Trend in Asian and European Automobile Industry and its Challenges
Volume 5, Issue 6 Bibhushan Raj Joshi
Published online: 27 December 2019 Article Views: 30
Abstract
The automotive industry has come a long way since its starting with a horseless carriage in the 1860s. The automotive sector is regarded as an important driver of economic growth. The paper looks into the ongoing development in the automobile industry. The current study is explanatory in nature and gathers data on the automobile industry. It provides in-depth knowledge of the most recent developments in this sector. The results show that the Asian market, with its availability of a large and cheap labour force and growing market, has seen significant maturation. In contrast, with its culture of research and innovation and the presence of major automobile companies, the European market has been able to draw growth from other parts of the globe, which has ultimately allowed them to maintain their stance in the market. There has been massive development in the automobile sector in recent years. But an increasing number of competitors, environmental laws and other multiple factors are affecting the industry. The findings implies that these factors need to be properly tracked as it plays a crucial role to predict the future market and helps in better understanding the automobile market to gain sustainable competitive advantage.
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To Cite this article
Joshi, B. R. (2019). Trend in Asian and European Automobile Industry and its Challenges. International Journal of Business and Administrative Studies, 5(6), 321-328. doi: https://dx.doi.org/10.20469/ijbas.5.10002-6
