The number of car manufacturers in the market has increased continually with the emerging economies also getting into the act. Most parts of the globe have a manufacturing hub for automobiles. The traditional centres of Germany, Italy, UK, France, USA and Japan have been joined in the last few decades by manufacturing operations in China, Korea, Indonesia, India, South Africa, Russia, Mexico and Brazil. Most of the Personal contract purchase traditional companies have started operations in the emerging companies to cater to the demand that is being created and to supply cars to other markets including those in their countries of origin themselves.
New markets provide incentives and waivers on tax and infrastructure expenditure and possess an abundance of labour which is employable at very low costs to the company when compared with wages in the country where they are incorporated. The economy that receives the investment benefits by the creation of direct employment at the plant and the development of ancillary industries which employ more people than the factory by itself. Even higher will be the employment generated by a thriving automotive sales and servicing component in the host country. As the industry picks up steam, promoters in the host country start their own brands and evolve to the markets abroad.
Korean manufacturers have come into their own recently and manufacturers from other countries are eyeing markets across the globe. Saturation in the developed markets has also been a recent reason for the traditional brands to increase investments into emerging markets. Countries like Brazil and Mexico are poised to dramatically increase production capacity as investments in the hundreds of millions of dollars are pouring into these new economic powerhouses.
These markets have millions of consumers who have recently entered into the global economy through employment in the interlinked export and import streams. People with access to jobs are participating in the consumer revolution that has made a big Personal contract hire impact with the latest gadgetry in electronics and automotive technology. As each country comes in to the party with each passing year, a booming market continues to be created constantly. Manufacturers make a beeline to the next market that has potential for dynamism. While India and China are going to be the stable engines in terms of markets, Brazil, Indonesia and South Africa are the new stars in this decade.
Companies that closed down manufacturing facilities a decade or more ago are now returning as stability returns. Political upheavals can create a dampener to long-term plans and can disrupt the growth trajectory that has been projected. Brazil, Indonesia and Mexico are looking forward to stability after having battled with weak governments, gang violence and insurgencies. The developed economies are also witnessing growth after the slump and are gearing up to better prospects. Financing options such as personal contract hire and Personal contract purchase are providing customers with new avenues to get their hands on the latest automobiles. Technology continues to entice customers with many features related to safety, economy, security and connectivity getting embedded into the latest models.