Are you still in the driver’s seat?
The global automotive industry has for decades been significant for both economic and emotional reasons. A car is often the largest purchase a consumer makes other than his or her home. Estimates suggest there are about 1.2 billion cars in service globally valued at about US$20 trillion. By any standard the global automotive industry is a colossus. We are ‘attached’ to our cars. They are marketed and sold as much through emotion as their operating specifications. For many, the car is a marker of success, provides a sense of independence or is a symbol of who they are. The driving experience, not merely the transportation function, is greatly valued by many. At the same time, commercial vehicles further underpin the importance of the global automotive industry.