In our present world, it seems as though every single human represents a business.
Whether it’s a growing business, an already established and thriving business or even a business yet to be born.
This is from my observation of the number of businesses all over the world today,
every one striving to be the best.
It is amazing to think there is more to come.
Whatever form of business you are engaged in,
there are competitors, within or outside your vicinity, known or unknown to you.
Competitors are not just for growing businesses to scare them away;
competition exists even at the zenith of any form of business.
Looking at the automobile industry, let us take Hyundai as an example; examine it and also its competitors.
The Automobile Industry
The automobile industry comprises a wide range of organizations and companies
involved in the design, development, manufacturing, marketing, and selling of motor vehicles, motorcycles, towed vehicles, mopeds, and the like.
The automobile industry also consists of companies that manufacture the parts and components of these various vehicles.
The automobile industry is one of the world’s largest industries; generating a
revenue of 16 percent in locations like France, and 4 percent in locations like Slovakia.
The automobile industry is a product out industry, it focuses mainly on manufacturing.
The automobile industry is the single greatest engine of economic growth in the world.
The mass employment the automobile industry creates in major countries of the world is highly notable.
Over the past decade (1995-2005), the industry has recorded an increase of 30 percent.
With the latest development springing up from the industry, their growth is just unstoppable.
Hyundai employs about 270,000 people worldwide.
Hyundai Motors has a net worth of 5.22 billion dollars.
This net worth increases by the day.
The total assets of Hyundai Motors are about 313.5 billion dollars.
Millennials, energy, and fuel content readers, corporate finance,
Experian mosaic lifestyle group, entrepreneurs, and Roy Morgan Helix
Personas are the target audience of Hyundai Motors.
Importance of the Automobile Industry
The automobile industry is important because:
- It increases the quality of life through increased mobility, comfort, and safety.
- It has provided a lot of job opportunities for a lot of people.
- It has also provided an opportunity for skill development for a million people.
- It contributes majorly to the economic growth of a nation.
- It fosters innovation and creativity.
- It develops human capital.
- It improves efficiency, emissions, and safety.
- It supports other industries during downturns.
- It invests in the future of the world via research.
Largest Automobile Companies in the World
Based on how much they have covered and achieved since inception, these are the 11 largest automobile companies in the world.
- Tata Motors.
- Mahindra & Mahindra Ltd.
- Maruti Suzuki.
- Hero MotoCorp Ltd.
- Bajaj Auto Ltd.
- Toyota Motor Corporation.
- Chevrolet.
- Mitsubishi Motors Corporation.
- Honda Motor Co. Ltd Company.
- Ford Motor Company.
- Hyundai Motor Company.
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