Automotive Industry News

Automotive industry news, previously limited to trade publications, has begun to appear in mainstream newspapers and magazines more frequently. This trend underscores the growing importance of the automotive industry. Today, the automotive industry figures high on the list of large and globalised industries. Now most leading automotive companies have a presence in all the major markets and an interest in automotive industry news has become more popular.

An upshot of the globalisation process is the increase in groups interested in the automotive industry news. The automotive component manufacturers in China, for instance, are interested in knowing about the US automotive industry. Similarly, regulators track product recalls in other countries to know about problems and initiate action in their countries.

Consumers are also beginning to take interest in the automotive industry news for two reasons. The vehicle ownership, particularly in developing countries is increasing, thanks to higher per capita incomes. The vehicle sales in developing countries such as China and India are growing at astonishing rates, defying the sluggishness prevalent in most developed markets. The growing base of vehicle ownership translates into more interest in automotive industry news. One obvious example is the surge in the number of mainstream magazines and web sites devoted to automotive business in countries such as India and China.

An upsurge in penetration of Internet and mobile phones has also dragged automotive industry news into the mainstream. Now most youngsters use the web to access information on new models, performance enhancement and accessories.

What is automotive industry news?

Automotive industry news is a broad term that includes information about all aspects of the automotive industry ranging from production to sales—and all the activities in between. The providers of automotive industry news include:

• automotive companies,
• media,
• business research firms,
• regulators,
• industry associations and
• Web sites.

The automotive companies are usually the primary source for automotive industry news. The automotive companies periodically disclose financial information and news of important developments through press releases, reports and filings. Industry associations and business research firms are good sources of data and analysis.

In the last few years, radical changes have taken place in the nature of automotive industry news and the way it is delivered. In years past, automotive industry news was based on facts, but now reliance on opinions and hearsay has increased. The emphasis has also shifted to speed. For media and web sites, speed as become as important as accuracy. With television channels increasing their coverage of automotive business, print publications are under pressure to deliver news quickly.

The coverage has also undergone transformation in the last few years. News about the automotive companies and vehicle performance mattered more, but now emphasis has shifted to styling, value-added features and performance enhancement. The importance of value-added features such as communication equipment and safety systems has increased. Consumers have also begun to show interest in new models. A lot of mainstream automotive publications spend money and effort in procuring photographs of new models undergoing road testing. The news about performance enhancement has become a separate business altogether. With an increasing number of consumers showing interest in modifications and custom-built motorcycles, a number of special interest publications have come up. Indeed the consumption of automotive industry news is no longer limited to select groups of the society, but has become much more broad-based. With the automotive industry becoming more globalised and the vehicle ownership in developing countries increasing, the reader base of automotive industry news is set to surge.