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The automotive industry is a term that covers a wide range of companies and organisations involved in the design, development, manufacture, marketing, and selling of motor vehicles, towed vehicles, motorcycles and mopeds. It is one of the world's most important economic sectors by revenue.

The term automotive industry usually does not include industries dedicated to the maintenance of automobiles following delivery to the end-user, such as repair shops and motor fuel filling stations.

The term automotive was created from Greek autos (self), and Latin motivus (of motion) to represent any form of self-powered vehicle. This term was proposed by SAE member Elmer Sperry.^[1]

Safety

See

Safety is a state that implies to be protected from any risk, danger, damage or cause of injury. In the automotive industry, safety means that users, operators or manufacturers do not face any risk or danger coming from the motor vehicle or its spare parts. Safety for the automotives themselves implies that there is no risk of damage.

Safety in the automotive industry is particularly important and therefore highly regulated. Automobiles and other motor vehicles have to comply with a certain number of norms and regulations, whether local or international, in order to be accepted on the market. The standard ISO 26262 ^[2] (_See also main article:_ ISO 26262) for instance is considered as one of the best practice framework for achieving automotive functional safety.^[3]. That is, to ensure that motored vehicles meet all requirements for safe manufacturing and operation for end-users.

In case of safety issues, danger, product defect or faulty procedure during the manufacturing of the motor vehicle, the maker can request to return either a batch or the entire production run. This procedure is called product recall. Product recalls happen in every industry and can be production-related or stem from the raw material.

Product and operation tests and inspections at different stages of the value chain are made to avoid these product recalls by ensuring end-user security and safety and compliance with the automotive industry requirements. However, the automotive industry is still particularly concerned about product recalls^[4], which cause considerable financial consequences.

Economy

Around the world, there were about 806 million cars and light trucks on the road in 2007, consuming over 260 billion US gallons (980,000,000 m³) of gasoline and diesel fuel yearly.^[5] The automobile is a primary mode of transportation for many developed economies. The Detroit branch of Boston Consulting Group predicts that, by 2014, one-third of world demand will be in the four BRIC markets (Brazil, Russia, India and China). Other potentially powerful automotive markets are Iran and Indonesia.^[6] Emerging auto markets already buy more cars than established markets. According to a J.D. Power study, emerging markets accounted for 51 percent of the global light-vehicle sales in 2010. The study expects this trend to accelerate.^[7]^[8]

World motor vehicle production

For many decades, the United States led the world in total automobile production. In 1929 before the Great Depression, the world had 32,028,500 automobiles in use, and the US automobile industry produced over 90% of them. At that time the U.S. had one car per 4.87 persons.^[9] After WWII the U.S. issued 3/4 of world's auto production. In 1980 the U.S. was overtaken by Japan and became world's leader again in 1994. In 2006, Japan narrowly passed the U.S. in production and held this rank until 2009, when China took the top spot with 13.8 million units. By producing 18.4 million units in 2011, China produced more than twice the number of automobiles made by the U.S. in second place with 8.7 million units, while Japan was in third place with 8.4 million units.^[10]

Company relationships

It is common for automobile manufacturers to hold stakes in other automobile manufacturers. These ownerships can be explored under the detail for the individual companies.

Notable current relationships include:^{[citation needed]}

Daimler AG holds a 20% stake in Eicher Motors, a 10.0% stake in KAMAZ, a 10% stake in Tesla Motors, a 6.75% stake in Tata Motors and a 3.1% in the Renault-Nissan Alliance.
Dongfeng Motor Corporation is involved in joint ventures with several companies around the world, including: Honda (Japan), Hyundai (South Korea), Nissan (Japan), Nissan Diesel (Sweden), and PSA Peugeot Citroen (France).
Fiat holds a 90% stake in Ferrari and a 61.8% stake in Chrysler.
Ford Motor Company holds a 3% stake in Mazda and a 12.1% share in Aston Martin.
Geely Automobile holds a 23% stake in Manganese Bronze Holdings.
General Motors holds a 7% stake in PSA Peugeot Citroen, Shanghai Automotive Industry Corporation (SAIC) have two joint ventures in Shanghai General Motors and SAIC-GM-Wuling Automobile. Both also hold an equal 50% stake in General Motors India Private Limited. And General Motors holds a 94% stake in GM Korea and SAIC Group holds a 6% stake.
Hyundai Kia Automotive Group holds a 33.99% stake in Kia Motors,^[11] down from the 51% that it acquired in 1998.
MAN SE holds a 17.01% voting stake in Scania.
Porsche Automobil Holding SE has a 50.74% voting stake in Volkswagen Group. The Porsche automotive business is fully owned by the Volkswagen Group.
Renault and Nissan Motors have an alliance( Renault-Nissan Alliance ) involving two global companies linked by cross-shareholding, with Renault holding 44.3% of Nissan shares, and Nissan holding 15% of (non-voting) Renault shares. The alliance holds a 3.1% share in Daimler AG.
Renault holds a 25% stake in AvtoVAZ and 20.5% of the voting stakes in Volvo Group.
Toyota holds a 51% stake in Daihatsu, and 16.5% in Fuji Heavy Industries, parent company of Subaru.
Volkswagen Group holds a 37.73% stake in Scania (68.6% voting rights), and a 53.7% stake in MAN SE (55.9% voting rights). Volkswagen is integrating Scania, MAN and its own truck division into one division.Volkswagen Group has a 19.9% stake in Suzuki, and Suzuki has a 5% stake in Volkswagen.
Paccar inc. has a 19% stake in Tatra.

Top vehicle manufacturing groups by volume

This section is outdated

The table below shows the world's largest motor vehicle manufacturing groups, along with the marques produced by each one. The table is ranked by 2010 end of year production figures from the International Organization of Motor Vehicle Manufacturers (OICA)^[12] for the parent group, and then alphabetically by marque. Joint ventures are not reflected in this table. Production figures of joint ventures are typically included in OICA rankings, which can become a source of controversy.^[13]^[14]

Note: This section does not include the selling of other products in a region example; CAT sells commercial vehicles in the US, Canada, Mexico, and Australia, and New Zealand. But sells its other products worldwide. If the table(markets) says that a brand is available in example North America, it doesn't include Territories controlled by countries on other continents. Example; GMC isn't available in any European territories within North America.

Marque	Ownership	Markets
1. General Motors Company ( United States)
Buick	Division	United States, Canada, Mexico, China, Israel
Cadillac	Division	North America, Europe, Middle East, China, Japan
Chevrolet	Division	Global, except Australia, New Zealand, Africa(excluding South Africa and Egypt)
GMC	Division	North America, Middle East
Holden	Subsidiary	Australia, New Zealand
HSV	Subsidiary	Australia, New Zealand
Jie Fang	Joint venture	China
Opel	Subsidiary	Europe (except UK), North Africa, South Africa, Middle East, China, Singapore, Australia, Chile
OPC	Subsidiary	Europe (except UK), South Africa, Middle East, Singapore, Australia, Chile
Vauxhall	Subsidiary	United Kingdom
2. Volkswagen Group AG ( Germany)
Audi	Subsidiary	Global, except Iran
Bentley	Subsidiary	Global
Bugatti	Subsidiary	Global
Lamborghini	Subsidiary	Global
MAN	Subsidiary	Europe, Asia, Africa, South America
Porsche	Subsidiary	Global, except Iran
Scania	Subsidiary	Global
SEAT	Subsidiary	Europe, South America, Africa, Middle East, China, Mexico
Škoda	Subsidiary	Europe, Asia, Central America (including Dominican Republic), South America, Northern and western Africa, Australia, New Zealand
Volkswagen	Subsidiary	Global
Volkswagen Commercial Vehicles	Subsidiary	Europe, Central America, South America, Australia, China
VTB	Subsidiary	Brazil, Mexico, Nigeria and South Africa
3. Toyota Motor Corporation ( Japan)
Daihatsu	Subsidiary	Europe, Asia, Africa, and South America
Hino	Subsidiary	South East Asia, Japan, North America and South America
Lexus	Division	South East Asia, Japan, Middle East, United States, Canada, Europe, Brazil, Panama, Chile, Australia, New Zealand, South Africa
Lexus F	Division	South East Asia, Japan, Middle East, United States, Canada, Europe, Brazil, Panama, Chile, Australia, New Zealand, South Africa
Ranz	Joint-venture	China
Scion	Subsidiary	United States, Canada
Toyota	Division	Global, except Iran
TRD	Subsidiary	North America, United Kingdom
4. Hyundai Motor Group ( South Korea)
Hyundai	Division	Global, except Mexico and Japan
5. Ford Motor Company ( United States)
Ford	Division	Global
FPV	Subsidiary	Australia
Ford Team RS	Subsidiary	Europe
Lincoln	Division	United States, Canada, Mexico, Middle East, Japan, South Korea, China
SVT	Division	North America, Middle East
Troller	Subsidiary	South America, Africa
6. Nissan ( Japan)
Datsun	Division	Indonesia, India, Russia, South Africa
Infiniti	Subsidiary	Global, except Japan, Korea, South America and Africa
Infiniti Performance Line	Division	Global, except Japan, Korea, South America and Africa
Nissan	Division	Global, except Korea
Nismo	Division	Global, except Korea
Venucia	Joint venture	China
7. Fiat S.p.A. ( Italy)
Abarth	Subsidiary	Global, except Iran
Alfa Romeo	Subsidiary	Global, except Iran, China, Taiwan and the Philippines
Chrysler	Subsidiary	Global, except Europe (excluding UK and Ireland), Africa (excluding South Africa and Egypt), South Asia, South East Asia (excluding the Philippines)
Dodge	Subsidiary	Global, except Europe, Africa(excluding South Africa and Egypt), South Asia, South East Asia (excluding the Philippines)
Ferrari	Subsidiary	Global, except Africa(excluding South Africa), Iran, South East Asia
Fiat	Subsidiary	Global, except Africa(excluding South Africa), Iran, South East Asia
Jeep	Subsidiary	Global, except Africa(excluding South Africa and Egypt), South Asia, South East Asia (excluding the Philippines)
Lancia	Subsidiary	Europe (except UK and Ireland)
Maserati	Subsidiary	Global
Mopar	Subsidiary	Global, except Africa(excluding South Africa and Egypt), South Asia, South East Asia
Ram	Subsidiary	United States, Canada, Mexico, Brazil, Middle East
Street and Racing Technology	Subsidiary	Global, except Africa(excluding South Africa and Egypt), South Asia, South East Asia
8. PSA Peugeot Citroën S.A. ( France)
Citroën	Subsidiary	Europe, Central and South America, Northern and Western Africa, South Africa, Madagascar, Australia, New Zealand, Asia (except India, Pakistan and Bangladesh)
Peugeot	Subsidiary	Global, except USA, Canada, India, Pakistan and Bangladesh
9. Honda Motor Company ( Japan)
Acura	Subsidiary	United States, Canada, Mexico, China
Everus	Joint venture	China
Honda	Division	Global, except Korea
10. Renault ( France)
Dacia	Subsidiary	Europe, Middle East, Northern Africa
Renault	Division	Global, except United States, Canada, Korea, Africa(excluding North Africa, Ghana, Kenya and South Africa)
Renault Samsung	Subsidiary	South Korea, Chile
11. Suzuki Motor Corporation ( Japan)
Suzuki	Division	Global, except USA, Canada and Korea
Maruti Suzuki	Subsidiary	India, Middle East, South America
12. BMW AG ( Germany)
BMW	Division	Global
BMW i	Division	Global
BMW M	Division	Global
MINI	Division	Global
Rolls-Royce	Subsidiary	Global
13. Daimler AG ( Germany)
BharatBenz	Subsidiary	India
Denza	Joint venture	China
Freightliner	Division	North America, South Africa, Australia, New Zealand
Master	Subsidiary	Pakistan
Mercedes-AMG	Division	Global
Mercedes-Benz	Division	Global
Mitsubishi Fuso	Subsidiary	Global
Setra	Division	Europe, Asia, USA
Smart	Division	Global
Thomas Built	Subsidiary	North America
Western Star	Subsidiary	North America, Australia, New Zealand
14. Mazda Motor Corporation ( Japan)
Mazda	Division	Global, except India and Korea
15. Mitsubishi Motors Corporation ( Japan)
Mitsubishi	Division	Global, except Korea
Ralliart	Subsidiary	Global, Except Korea
16. Dongfeng Motor Corporation ( China)
Fengshen	Division	China
Venucia	Joint venture	China
17. Tata Motors, Ltd ( India)
Hispano	Subsidiary	Europe
Jaguar	Subsidiary	Global
Land Rover	Subsidiary	Global
Tata	Division	India, Ghana, Italy, Nepal, South Africa, Spain, Sri Lanka, Turkey, Nigeria
Tata Daewoo	Subsidiary	South Korea, Pakistan
18. Geely Automobile ( China)
Englon	Division	China
Emgrand	Division	China, United Kingdom, Turkey
Gleagle	Division	China
Geely	Division	China, Taiwan, Russia, North Africa, Middle East, South America, South Africa, Australia, Turkey
Maple	Division	China
Volvo (Cars)	Subsidiary	Global
19. Kia Motors ( South Korea)
Kia	Division	Global, except Mexico and Japan
20. Beijing Automotive Industry Holding Corporation, Ltd ( China)
BAW	Division	China
Foton	Subsidiary	China, Taiwan, Japan, Australia, South America, India
21. SAIPA ( Iran)
SAIPA	Division	Iran, Syria
22. Chery Automobile Company, Ltd ( China)
Chery	Division	China, South East Asia, Russia, South Africa, South America
Qoros	Joint-Venture	China
Riich	Division	China
Rely	Division	China
23. OAO AvtoVAZ ( Russia)
Lada	Division	Europe (except United Kingdom, Portugal and Malta), Central Asia
VIS	Division	Russia
24. First Automotive Group Corporation ( China)
Besturn	Division	China
Freewind	Subsidiary	China
Haima	Subsidiary	China
Hongqi	Division	China
Jiaxing	Subsidiary	China
Jie Fang	Joint venture	China
Vita	Subsidiary	China
Xiali	Subsidiary	China
25. Fuji Heavy Industries, Ltd ( Japan)
Subaru	Division	Global, except Mexico and Korea
26. Great Wall Motor Company, Ltd ( China)
Great Wall	Division	China, Taiwan, South Africa, Russia, North Africa, Australia, Europe, Middle East
27. Isuzu Motors, Ltd ( Japan)
Isuzu	Division	Global, except North America, Brazil and Korea
28. Anhui Jianghuai Automobile Company, Ltd ( China)
JAC	Division	China, Africa, Brazil
29. Brilliance China Automotive Holding, Ltd ( China)
Brilliance	Division	China, North Africa
Jinbei	Subsidiary	China
30. SAIC Motor ( China)
Baojun	Joint venture	China
Maxus	Division	China, Australia, South Africa, United Kingdom, Chile, Malaysia
MG Motor	Subsidiary	China, United Kingdom, South America, Australia
Roewe	Division	China, Belarus
Soyat	Division	China
Yuejin	Division	China
Wuling	Joint venture	China
31. BYD Auto ( China)
BYD	Division	China, Taiwan, Russia, United States, Canada
Denza	Joint venture	China
32. Mahindra & Mahindra, Ltd ( India)
Mahindra	Division	India, South East Asia, Europe, North Africa, North America, Australia
REVA	Division	India
SsangYong	Subsidiary	Global, except North America and Japan
33. AB Volvo ( Sweden)
Mack	Subsidiary	Global
NovaBus	Subsidiary	North America
Prevost	Subsidiary	North America
Renault Trucks	Subsidiary	Global, except Japan, United States and Canada
UD Trucks	Subsidiary	Global
Volvo Trucks	Division	Global
34. Chana Automobile Company, Ltd ( China)
Chana	Division	China, Taiwan, South Africa, Europe
Hafei	Subsidiary	China
Tiger Truck	Subsidiary	United States, Canada
35. Iran Khodro Company ( Iran)
Iran Khodoro	Division	Middle East,Northern Africa, Russia, Belarus, Central Asia, China, Venezuela
IKCO Diesel	Division	Middle East, Northern and Western Africa
36. Chongqing Lifan Automobile Company, Ltd ( China)
Lifan	Division	China, Taiwan, Russia, Middle East, South America
37. Proton Holdings, Bhd ( Malaysia)
Lotus	Subsidiary	Global
Proton	Division	South East Asia, Japan?, South Africa, United Kingdom, Middle East
38. Jiangling Motors ( China)
Jiangling	Division	China, Europe
39. Fujian Motors Group ( China)
Soueast	Joint-Venture	China
King Long	Joint-Venture	China, South East Asia, India, North America, Europe, Middle East, Australia, New Zealand
Xiamen Golden Dragon	Joint-Venture	China, South East Asia, Middle East, Africa, South America
Higer Bus	Joint-Venture	China,South Asia, Middle East, Africa, Russia, Eastern Europe, United States, Canada, Central America, South America
40. Kuozui Motors, Ltd ( Taiwan)
Kuozui	Subsidiary	Taiwan
41. China National Heavy Duty Truck Group ( China)
Sinotruck	Division	China
42. Hunan Jiangnan Automobile ( China)
Jiangnan	Division	China
43. Paccar Inc. ( United States)
DAF Trucks	Subsidiary	Global, except North America and Japan
Kenworth	Division	North America, Australia
Leyland Trucks	Subsidiary	Global, except North America and Japan
Peterbilt	Division	North America
44. GAZ ( Russia)
GAZ	Division	Russia, Europe, Central Asia
LiAZ	Subsidiary	Russia
Ural Trucks	Division	Russia
45. Hafei Motor ( China)
Hafei	Subsidiary	China
46. Jiangxi Changhe Automobile ( China)
Changhe	Division	China
47. Shaanxi Automobile Group ( China)
Shaanxi	Division	China
48. Qingling Motors Company Ltd. ( China)
Qingling	Division	China
49. Ashok Leyland ( India)
Ashok Leyland	Division	South Asia, Middle East, East Africa
50. Navistar International Corporation ( United States)
eStar	Division	United States, Canada
IC	Subsidiary	United States, Canada
International	Division	North America, South America, Russia, Middle East, Egypt, South Africa
??. Fiat Industrial S.p.A ( Italy)
Iveco	Subsidiary	Global
Irisbus	Subsidiary	Global, except North America
Zastava Trucks	Subsidiary	Europe
??. Oshkosh Corporation ( United States)
Oshkosh	Division	USA, Canada, China
??. Yulon Motor ( Taiwan)
Luxgen	Division	Taiwan, China, Oman
Tobe	Division	Taiwan
??. Shandong Kaima ( China)
Kaima	Division	China
Jubao	Division	China
Aofeng	Division	China
??. Guangzhou Automobile Industry Group Co Ltd ( China)
Changfeng	Subsidiary	China, Russia, Middle East, Africa
Everus	Joint venture	China
Gonow	Subsidiary	China
Trumpchi	Division	China
??. Micro (cars) ( Sri Lanka)
Micro (cars)	Division	Sri Lanka
??. Rongcheng Hawtai Automobile ( China)
Hawtai	Division	China
??. Caterpillar Inc. ( United States)
CAT	Division	United States, Canada, Mexico, Australia, New Zealand

By total production

Quantifying the total production of a manufacturer, from their start-up, is a difficult task, because of frequent company ownership changes. However some producers, and independent sources, provide some valuable statistics:

Toyota reached 200 000 000 vehicles as of July 2012 (after 77 years of production).^[15]

Minor automotive manufacturers

There are many automobile manufacturers other than the major global companies. They are mostly regional or operating in niche markets.

References

^ Scientific and Technical Societies of the United States (Eighth ed.). Washington DC: National Academy of Sciences. 1968. p. 164.
^ 26262-1:2011 ISO, Retrieved 04/25/2013
^ [1] SGS, Functional Safety
^ [2] SGS, Product Recalls in the Automotive Industry
^ "Automobile Industry Introduction". Plunkett Research. 2008. Archived from the original on 28 August 2010. Retrieved 2010-09-09. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
^ Paul A. Eisenstein Building BRIC's: 4 Markets Could Soon Dominate the Auto World at TheDetroitBureau.com
^ Bertel Schmitt (15 February 2011). "Auto industry sets new world record". The Truth About Cars. Retrieved 7 August 2011.
^ "Global Automotive Outlook for 2011 Appears Positive as Mature Auto Markets Recover, Emerging Markets Continue to Expand". J.D. Power and Associates. 15 February 2011. Retrieved 7 August 2011.
^ "U.S. Makes Ninety Percent of World's Automobiles" Popular Science Monthly, November 1929, p. 84.
^ "Production Statistics". OICA. Retrieved 9 Seitember 2011. {{cite web}}: Check date values in: |accessdate= (help)
^ "Hyundai Motor Company 2011 annual report". Worldwide.hyundai.com. Retrieved 2012-06-22.
^ "World Motor Vehicle Production: World Ranking of Manufacturers Year 2010" (PDF). OICA. Retrieved 2011-08-12.
^ "GM Slips to Number Two Worldwide, Ford to Fourth". The Truth About Cars. Archived from the original on 13 May 2010. Retrieved 2010-06-12. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
^ "TTAC Announces World's Top Ten Automakers". The Truth About Cars. Archived from the original on 5 June 2010. Retrieved 2010-06-12. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
^ http://www.themotorreport.com.au/54659/toyota-77-years-200-million-vehicles

External links

Template:Link GA

[STS_of_US-1] Scientific and Technical Societies of the United States (Eighth ed.). Washington DC: National Academy of Sciences. 1968. p. 164.

[2] 26262-1:2011 ISO, Retrieved 04/25/2013

[3] [1] SGS, Functional Safety

[4] [2] SGS, Product Recalls in the Automotive Industry

[5] "Automobile Industry Introduction". Plunkett Research. 2008. Archived from the original on 28 August 2010. Retrieved 2010-09-09. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

[6] Paul A. Eisenstein Building BRIC's: 4 Markets Could Soon Dominate the Auto World at TheDetroitBureau.com

[7] Bertel Schmitt (15 February 2011). "Auto industry sets new world record". The Truth About Cars. Retrieved 7 August 2011.

[8] "Global Automotive Outlook for 2011 Appears Positive as Mature Auto Markets Recover, Emerging Markets Continue to Expand". J.D. Power and Associates. 15 February 2011. Retrieved 7 August 2011.

[9] "U.S. Makes Ninety Percent of World's Automobiles" Popular Science Monthly, November 1929, p. 84.

[Production_Statistics-10] "Production Statistics". OICA. Retrieved 9 Seitember 2011. {{cite web}}: Check date values in: |accessdate= (help)

[11] "Hyundai Motor Company 2011 annual report". Worldwide.hyundai.com. Retrieved 2012-06-22.

[12] "World Motor Vehicle Production: World Ranking of Manufacturers Year 2010" (PDF). OICA. Retrieved 2011-08-12.

[13] "GM Slips to Number Two Worldwide, Ford to Fourth". The Truth About Cars. Archived from the original on 13 May 2010. Retrieved 2010-06-12. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

[14] "TTAC Announces World's Top Ten Automakers". The Truth About Cars. Archived from the original on 5 June 2010. Retrieved 2010-06-12. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

[15] ttp://www.themotorreport.com.au/54659/toyota-77-years-200-million-vehicles

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@@ Line 11: / Line 11: @@
 Safety in the automotive industry is particularly important and therefore highly regulated. [[Automobiles]] and other [[motor vehicles]] have to comply with a certain number of norms and regulations, whether local or international, in order to be accepted on the market. The standard [[ISO 26262]] <ref>[http://www.iso.org/iso/catalogue_detail?csnumber=43464ISO 26262-1:2011] ISO, Retrieved 04/25/2013</ref> (_See also main article:_ [[ISO 26262]]) for instance is considered as one of the best practice framework for achieving automotive [[functional safety]].<ref>[http://www.sgs.com/en/Automotive/Electrical-Components/Power-Electronics/Vehicle-PE/Functional-Safety.aspx] SGS, Functional Safety</ref>. That is, to ensure that motored vehicles meet all requirements for safe manufacturing and operation for end-users.
+In case of safety issues, danger, product defect or faulty procedure during the manufacturing of the motor vehicle, the maker can request to return either a batch or the entire production run. This procedure is called [[product recall]]. Product recalls happen in every industry and can be production-related or stem from the raw material.
+Product and operation tests and inspections at different stages of the [[value chain]] are made to avoid these product recalls by ensuring end-user security and safety and compliance with the automotive industry requirements. However, the automotive industry is still particularly concerned about product recalls<ref>[http://www.sgs.com/en/Our-Company/News-and-Media-Center/News-and-Press-Releases/2013/03/SGS-Informs-Customers-about-Product-Recalls-in-the-Automotive-Industry.aspx] SGS, Product Recalls in the Automotive Industry</ref>, which cause considerable financial consequences.
 ==Economy==