MICHauto is a key economic development initiative of the Detroit Regional Chamber dedicated to promoting, retaining and growing the automotive industry in Michigan. The bargaining power of suppliers and threat of new entrants are moderate, which is not very favorable to industry profitability. The industry has had to become more consumer driven, as the customers become more educated about the product they wish to purchase.
Over the next decade, Internet-connected car technologies and autonomous vehicles are set to stir up yet another revolution in the automotive sector. Thanks in part to training programs from AIDT and others preparing a skilled workforce, growth beneath the hood of Alabama’s auto industry will continue to pick up pace.
Cars after the car’s initial sale are part of the automotive after-market, a 257 billion dollar market. I started out in the auto industry in the mid 70s or what we now call the good old days. Based on the country’s century-long engineering tradition, good infrastructure and skilled workforce, it significantly contributes to automotive manufacturing and R&D.
Holden (part of the global General Motors group), Ford and Toyota currently manufacture cars in Australia. The industry is a major consumer of such key commodities as copper, aluminum, and steel. The law did not prevent the closure of the Renault factory and will have no impact on the proposed closure of the Ford plants, it only helps unions and workers to get a more or less fair financial compensation for the loss of jobs.
In 2017 and beyond, European manufacturers will help China develop its safety and testing capabilities—as China continues to showcase the benefits of a robust, comprehensive EV strategy. To remain competitive in today’s automotive industry, car manufacturers must react quickly to evolving pricing and incentives.