The growth of automobile industry enhances a positive progress in the economy of the world
The statistics shows that at least 3 hours are spend by traveling on a average level by a person and every 11th person own a car personally in this busy hi-tech world. It clearly demonstrates the rapid growth of automobile industry.
The drastic change from the previous form of slow starting motors with less features such as radios, windshield wipers and lights to much and more comforts and features are provided by the technological advancement in the electronic and mechanical industry. A close watch will reveal its addition and progress in a regular interval basis.
The boom in automobile industry after the First World War matches several comforts and features that control smooth running of the vehicle. They invest much in producing motor vehicles, engines, accessories and its bodies and it also manufactures vehicles like trucks, vans, passenger vehicles, pickups, sports vehicles etc.
Like many other industry, the progress paved the growth in employment opportunities and inventing newer and newer technologies. The competition among the manufacturing companies to offer better services provides more job opportunities for skilled laborers. Thus the automotive job market ranges from a less skilled laborer to a highly skilled technician in order to meet the customer satisfaction, which determines the success of the companies.
The ranges of job including precision and making of fine body parts, assembling, Welding, painting etc. in the order of production provide a decent pay package for the daily lives of many. The income range and pay package is so attractive that the education system itself include new study areas in the automotive technology like automobile engineering, Welding technology etc. The comfort and luxury the automotive engineering offering accounts much among today's youth fascination.
More than that the raw market suppliers, several financial organization that provide loans to several small-scale automotive parts manufacturing units also increase in numbers. There are also several banking organization came into being which give financial assistance for people in owing an own vehicle. Also several insurance companies which provide insurance to the automobiles and also to the workers categorized in high risk job areas like welding also Thus directly and indirectly several sectors of business flourished due to the progress in automobile industry.
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