Trend in Asian and European Automobile Industry and its Challenges

Bibhushan Raj Joshi
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Bibhushan Raj Joshi: School of Business and Management, Institut Teknologi Bandung, Bandung, Indonesia Tribhuvan University, Kirtipur, Nepal

International Journal of Business and Administrative Studies, 2019, vol. 5, issue 6, 321-328

Abstract: The automotive industry has come a long way since its starting with a horseless carriage in the 1860s. The automotive sector is regarded as an important driver of economic growth. The paper looks into the ongoing development in the automobile industry. The Asian market with its availability of large and cheap labor force and growing market has seen significant maturation, while the European market with its culture of research and innovation, and presence of major automobile companies have been able to draw growth from other parts of the globe, which has ultimately allowed them to maintain their stance in the market. There has been massive development in the automobile sector in recent years. But an increasing number of competitors, environmental laws and other multiple factors are affecting the industry. These factors need to be properly tracked as it plays a crucial role to predict the future market and helps in better understanding the automobile market to gain sustainable competitive advantage.

Keywords: Automobile; challenges; Asian market; European market (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:apa:ijbaas:2019:p:321-328

DOI: 10.20469/ijbas.5.10002-6

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