The Emerging Market Opportunity
The global automotive market was highly competitive and competition was likely to intensify further with continuing globalization. The factors affecting competition included product quality and features, safety, reliability, fuel economy, the amount of time required for innovation and development, pricing, customer service, and financing terms. With growing economies and a low vehicle penetration rate, emerging markets were considered as the key source of growth for the global automobile industry. According to the International Monetary Fund, between 1988 and 2011, while the developed markets' of global GDP declined from 61% to 49%
The Emerging Market OpportunityThe global automotive market was highly competitive and competition was likely to intensify further with continuing globalization. The factors affecting competition included product quality and features, safety, reliability, fuel economy, the amount of time required for innovation and development, pricing, customer service, and financing terms. With growing economies and a low vehicle penetration rate, emerging markets were considered as the key source of growth for the global automobile industry. According to the International Monetary Fund, between 1988 and 2011, while the developed markets' of global GDP declined from 61% to 49%
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