Essay on The World 's Biggest Auto Companies
The automotive industry is made up of a wide range of companies involved in the designing, manufacturing, marketing and development of motor vehicles. The term automotive comes from the Greek word autos (self) and the Latin word motivus (of motion). The 1890s were the milestone following the advent of the automobile industry with hundreds of manufacturers already existing. The United States of America led the industry by remaining on top it for several decades in terms of total automobile production all over the world. In the year 1929, before the Great Depression, the world had 32,028,500 automobiles in use and over 90% of them were produced by the U.S automotive industry alone. But later, in the1980, Japan took over only to see the U.S regain its position of world leader, once more, in 1994. The automotive industry is one of the world 's most important economic sector in terms of generated profit.
Let’s now talk about the top 5 automobile companies in the world.
1. TOYOTA MOTOR, country- Japan: A Japanese automotive manufacturer which has its head office in Toyota, Aichi, Japan. It was founded in 1937 by Kiichiro Toyoda. Based on its annual revenue it is the 9th largest company in the world. It is also the world 's first automobile manufacturer with over10 million vehicles per year. During the 2015 year calendar, Toyota had globally produced 10.08 million units, which is approximately 150,000 vehicles more than the 9,930,600 units…