With the technological advancements taking place and the diversification of the products being manufactured in the automobile sector to those based on alternative fuels, the future of the automobile is predicted to be high performing. By 2012, the performance of the global automobile industry is set to increase dramatically since 2007 by a ratio of almost one is to three.
“The performance of the global automobiles industry is forecast to accelerate, with an anticipated CAGR of 5% for the five-year period 2007-2012, which is expected to drive the global automobiles industry to a value of $1,541.6 billion by the end of 2012. Comparatively, the Americas and European industries will grow with CAGRs of 4.7% and 5%, respectively, over the same period, to reach respective values of $575.3 billion and $537.3 billion in 2012.” (‘Automobiles Industry Profile: Global’, 2008)
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