Automotive Industry: Many Serious Challenges Ahead
The car industry and especially that of western countries will have to face very soon many challenges. It will also have serious impacts in terms of employment. It seems clear that this industry is at crossroads. Car manufacturers must urgently take into account the major development of the electric vehicle. Furthermore, the size of the Chinese market will obviously have an impact on the location of future car factories. And this to the detriment of Europeans but also Americans. And this competition which comes today from China will come tomorrow from India. It will force the western automotive industry to reduce its manufacturing costs. That said, and to craft a positive vision for the future of this important industry sector, we must recall that the automobile is still considered essential for the individual freedom of each of us. The car represents the freedom to move where and when you desire. It's not nothing! Let us also recall that a car still remains for many people a symbol of status and success. However, today many individuals make the choice of public transport. Finally, let us stress that the automobile provides jobs to about 14 million people in the EU, 8 million in the US and more than 5 million in China (Re.Epicflow). A final observation: the Chinese car industry produces 49 vehicles per 1 minute. A way ahead its main competitors.