With profitability being so low for most automotive companies, automakers are looking for new ways to save money while still producing quality vehicles. More and more manufacturers are shifting their bases of production to the Asian region. By the year 2015 Asia is expected to be the leading exporter of automotive parts and will most likely be the primary outsourcing region for automotive components worldwide.
There are multiple changes taking place in the automotive market, most importantly what technology manufacturers are using in vehicles worldwide. All countries are actively working to develop alternative propulsion systems, moving away from the need for gasoline and possibly phasing out the internal combustion engine all together. All safety systems are becoming integrated to work together to provide the safest automobiles possible. Manufactures are focusing more on health, wellness, and well being as opposed to performance, so high horsepower vehicles and big engines will soon be a thing of the past.
Worldwide “going green” is becoming the biggest issue for all manufacturers. The future focus of will not necessarily be about reducing emission and having a cleaner burning engine, but instead making vehicle components that are made from renewable materials that are lighter and easily recycled. There is a strong possibility that automobiles will be highly recyclable and eventually be used to build new cars. This will hopefully drive the cost of vehicles down as they will be much cheaper to produce and reproduce. Until the gasoline engine is phased out the light weight components will also reduce consumption providing much higher MPG ratings.
Full electric cars will become more popular overseas as population grows. This will provide opportunities for non automotive suppliers to jump into the automotive market. It’s a well known fact that every manufacturer has their own weakness. Different companies who were once very competitive are beginning to team up to provide better vehicles all around. This will hopefully help the global automotive market produce more fuel efficient cars and trucks that will have a longer life and in a sense the best of both worlds.
In a nutshell it appears global automotive companies are innovating ways to provide vehicles that aren’t as costly to produce, yet reduce emissions and increase has mileage. The goal is to provide vehicles and components that are safer for consumers and the planet. Essentially a fully recyclable car is the goal; which would also phase out salvage yards, and open up the possibility for new recycling plants. In the end the innovation of technology into the common day vehicle makes it safer, cheaper, and better on the environment.