The rapid growth in automobile industry has had its ebbs and flows. Automobile and automotive parts & components manufacturers make the major portion of the automotive industry throughout the world. Automobile manufacturing sector consists of truck manufacturers, motor vehicle body manufacturers, motor vehicle parts and supplies manufacturers. This is engaged in manufacturing of automotives and light duty motor vehicles, personal utility transport vehicles and chassis, cabs, trucks, automobile and utility trailers, buses, military small and heavy vehicles and the main parts of the motor vehicle engines.
The global automotive industry is highly diversified and includes different sectors like manufacturers, suppliers, dealers, retailers, original equipment manufacturers, automotive engineers, spray painters, motor mechanics, auto electricians, aftermarket parts manufacturers, body repairers, fuel producers, environmental and transport safety groups and even many of trade unions.
The global leaders in auto industry are United States, Japan, China, Germany and South Korea. The United States of America is the world's largest producer and consumer of motor vehicles and automobiles accounting to almost 6.6 million direct and indirect-jobs. Automobile industry is one of the significant ones in the world that provides employment to 25 million people across the globe. This industry is largely dominated by the five giant automobile manufacturing corporations namely Toyota, General Motors, Ford Motor Company, Volkswagen AG and Daimler Chrysler. To overcome certain production costs many mainstream auto corporations have established there units worldwide.
Engine parts form one of the largest segments of the automotive components industry. Recently auto industry is going through its worst periods. Infiltration of the Automotive Industry:
Starting from 1997, the production volumes of total vehicles of the world were 52,987000, which rose in the year 1998 to 60,120000. In 2004 the production volumes were recorded as 64,496,220, which again got bigger in 2007 which was recorded as 73,266,061. Controlling the Production Volumes:
On exceeding the production volumes, they received some big time losses as they had stored their big time products in the back log inventories.
The products were stocked and got futile as they got deteriorated in the stocks and which is why the companies started to control their production volumes. "Just in time", a Japanese quality control concept was developed only for such reason.
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