Abstract
The automotive sector accounts for a significant part of the global cross border trade. Therefore, it is to reflect the current economic structure around the world. This study reveals economic characteristics of this significant sector, while considering how cross border trade, production and market of this sector have experienced shifts across regions over the last decade. This study proves that Asia-Pacific region has displayed remarkable growth in terms of automotive imports and exports, and motor vehicle assembly and market over the last decade constituting a larger share of the global automotive sector. On the other hand, European region still leads the global automotive imports and exports.
Highlights
The automotive sector is one of the largest sectors in terms of cross-border trade in the world
This study reports the world and regions' automotive imports and exports, motor vehicle assembly and market characteristics as well, while considering how the global automotive industry is evolved in relation to 2003
Findings of this study are that first, despite a lower share in the global automotive sector compare to the last decade [5], Europe is still the largest automotive importer and exporter, and the second largest motor vehicle assembly region after Asia-Pacific in the world [6]
Summary
The automotive sector is one of the largest sectors in terms of cross-border trade in the world. Findings of this study are that first, despite a lower share in the global automotive sector compare to the last decade [5], Europe is still the largest automotive importer and exporter, and the second largest motor vehicle assembly region after Asia-Pacific in the world [6]. The Americas are the second largest motor vehicle market after Asia in the world leading the Americas to assemble much fewer motor vehicles than their internal demand Despite their relatively weaker performance in the global automotive sector during the last decade, the Americas still have the largest motor vehicle fleet and the second highest motor vehicle ownership rate after Europe in the world.
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