The Growth of the Automobile Industry

Abstract

During the last decade, the advancement in production and management systems has revolutionized the automobile industry. The industry has witnessed the opening up and growth of several emerging markets. The automotive industry is now facing new and pressing challenges. Globalization, digitalization and increasing competition in the market are changing the face of the industry. Size of the organization is no longer a guarantee of success. Only those companies that find new innovative techniques to create value can prosper in the future. The purpose of this paper is to present a short overview of the automotive industry today and highlight challenges that are faced the industry. We are also going to overview Toyota's dominance in the US market, strategies used by them and how they were able to overcome the challenges and competition they faced in a foreign market, and how upcoming automobile companies can use Toyota's strategies to grow in the current market.

The evolution of embedded systems in automotive industry: A global review

“…These systems are crucial for controlling a wide range of functions, including engine management, safety features, entertainment systems, and more. The integration of embedded systems has revolutionized the automotive industry, leading to advancements in production and management systems (Yazdanifard, 2014). This evolution has been driven by the need to match capacity with volatile demand, prompting original equipment manufacturers to increase plant flexibility (Wittek et al, 2012).…”