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Economic Factors Affecting Automobile Industry

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Introduction: The economic environment is the most important factor that affects any country in developing it or in declining it, because it shows the factors that affects the market of this country and gives a full image for the economic environment and for the different markets of the country, the economic environment image for any country showed by the price of products and services also the demand of the consumers in this country because it’s the most affecting factor that have a great impact on the market and the price of products and services. As we can see the economic factors are in increasing every single day it depends on the condition of the countries and how the governments control the markets and having a future vision for the future impacts on the market and especially on the automobiles market. The new competitive edge in car production and demand will be driven by the swift evolution in technology. Alternatively, in emerging markets, the economic value of cars along with the facilities they provide would guide the choices of many new car owners. The Middle East is one of the regions with the highest demand for cars with a high car per household ratio. This is mainly attributed to the high income standards and the economic prices of energy …show more content…

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