The term innovation can become a confusing term when we have a look at it from the point of view of the automotive sector. Every second day new vehicles are making an entry in the market, when we have a look at the product portfolios of various companies then again we find that every year they are launching many products. Let’s now figure out an irony connected with this sector. Most of the people know that their cars don’t have a resale value because the culture of the scrap is prominent in the market. Still the makers of the cars are coming up with new expensive models and limited edition cars. Factors like traffic congestion and pollutions norms are also acting negatively on the growth of this industry sector.
Right now this sector has become a volatile sector because socio-political factors are not supporting it anymore. The concept of pollution free mass rapid transit systems has become the need of the hour. Traveling in a public transport has become a moral obligation of the people and many countries are promoting it as a social courtesy.
Blue chip companies of this market are working hard to maintain their status and success. Unorthodox and unconventional vehicles are attracting the sights of the probable investors. Have a look at some of the big auto expos of the world. Pick out a few promising designs and then check their performance in the real world markets. You will understand that what we are talking about. Many experts believe that this industry has already reached to the levels of saturation and only new technologies and an expansion in the infrastructure can give it a boost for the future. Still there are certain evergreen sectors of this industry that cannot be undermined at any cost because of their steady performance.