Posted by: Amit S Holey | May 28, 2012
The automotive industry has emerged stronger than ever having recovered from economic meltdown of 2008-09. However, much has changed between then and now. Markets, especially in developed countries, are saturated. Customer demands across geographies are considerably different – what sells in a developed country is not what is required in an emerging economy. Therefore, automakers must seek new business models to boost continued spending on the same vehicle rather than driving consumption of new vehicles.