Autos & Machinery

AUTOSThe automotive industry gradually returns to growth after the global economic recession. Demand for vehicles in mature markets improves and continued to grow in emerging markets. Recently emerging auto markets for the first time accounted for more than half of global light vehicle sales, clearly signaling a shift in the global market that has been underway for the past years. Auto original equipment manufacturers (OEMs) in the US and Europe have sharpened their focus on fresh opportunities in the emerging markets (China, India, Russia and other Asia-Pacific countries), Japanese OEMs like Toyota, Nissan and Honda have managed to further tighten their grip on the world’s largest automobile markets (the US and Europe). In 2013, China was the top auto market in volume of sales followed by the United States and Japan.  By 2016 India will have the third-largest market and Brazil will be fourth.