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Centuries ago when the first man on this planet decided to explore other parts of the world rather than spending all his life in the region he was born, hardly must have he thought that generations to be born after him will not have to think twice before swirling the car keys in their fingers and driving off in their comfortable vehicle to another city.

The journey of mere thoughts from hoping to see the far off lands to actually going away in a automobile to any desired place was covered in centuries and was surely not a cake walk. Lots of hard work, research, dreams and most importantly conviction of human race has made it possible. The invention of trains, ships, airplanes and automobiles makes traveling so much more enjoyable and faster than was for our ancestors years ago when they traveled to far off lands on horses, carts and chariots.

The first automobile was invented by a man called Karl Benz and other great men like Gottlieb Daimler and Charles E. Duryea have given their valuable contributions in creation of todays modern automobiles. Cars or automobiles today no more remain a mode of transport. They have progressed to be much more than just a object used to travel. They are now considered a statement of prosperity, style and of ones existent status in the society. The more numbers and brands you have own the better is your lifestyle. Acquiring the latest and the fastest motor car today directly proposes how relevant and important your role is in the society you belong to. Topmost motor companies in the world compete against each other in manufacturing the most luxurious, stylish and fashionable car for their ellitte customers. They launch these cars in the market with equally high prize tags for their special customers. The ellitte people on the other hand compete with one another to cease the opportunity of owning the latest model of car in the market thus displaying and propagating their status to other people. The basic purpose of an automobile is supposedly to display a performance of its task by giving better results with less mileage and lower consumption of fuel. However, ironically instead of serving this purpose manufactures sometimes get deviated from the real objective and concentrate more on the style quotient of the vehicles they manufacture. It is also very inappropriate to put the blame on the makers alone because they obviously are trying to run their business by providing the market what the consumers demand.

The theory of demand and supply holds absolutely true to all kinds of business and automobiles market is no exception from any other industry. As the visible trend in the market for automobile industry seems only grow bigger and stronger. Many countries like Japan, India, China, United States of America have there own brands in the market that have very specific assets and equally specific consumers of their products. The impact of globalization hasnt left unaffected any industry in recent years and Automobile industry is no exception in this context as well.

It is true that in todays world with better life style of people every one wants to own a vehicle and it no more remains a luxury but is somewhat a requirement. The prizes are more affordable and options of the different vehicles available in the market as per ones need is vast. One has an option to choose what is most suitable to their requirement. Apart from the growing middle-class with rising income levels, institutionalisation of automobile finance in recent years has contributed a great deal to the impressive sales growth. This is also expected to pave the way to sustain a long-term high growth for the industry. Till the early 1990s, auto finance was generally marred by supply constraints and high interest rates. In recent years, however, things have changed dramatically with improved supply of bank funds and a substantial lowering of interest rates. With a large number of financing agencies entering the market, auto finance is now available both from banks and non-banking finance companies (NBFCs). Also one another most important facet of automobile industry is its role in public transport and goods transport. New routes being identified and transport infrastructure having improved drastically in few decades the requirement of public transport and goods transport in the means of buses, cabs, trucks and vans also proves to be an integral part of auto business.

Looking at the recent sales figures of different companies and auto sales in different countries the

fact that automobile industry has blooming future in the coming years can be only affirmed. In a developing nation like India, in addition to the growing domestic demand, automobile exports have also registered a healthy growth in recent years, thanks to the improvement in the quality of products and their competitive prices. For instance, export of passenger cars rose from 28,122 in 1998-99 to 166,413 units in 2004-05. Exports of commercial vehicles increased to 30,000 units in 2004-05 from 12,255 in 2002-03 and those of two-wheelers to 336,724 units in 2004-05 from 179,682 in 2002-03. Toyota Motor Corporation of Japan has announced its plan to invest over 10 billion yen ($89 million) along with mini-vehicle producer Daihatsu Motor Company to set up a factory in India to produce 100,000 small cars a year from as early as 2007. Two multi-national car majors Suzuki Motor Corporation of Japan and Hyundai Motor Company of Korea have indicated that their manufacturing facilities will be used as a global source for small cars. The spurt in in-house product development skills and the uniquely high concentration of small cars will influence the country's ability to become a sourcing hub for sub-compact cars.

The only concerns that remains in the growing industry of automobiles is that with the limited sources of fuel and its consumption with such high rates in the present scenario, it not in the distant future that world will begin to experience dearth of petroleum. However, with the news like invention of solar cars and waste product fuel cars when hits the news the above concern also are begins to disappear. The inventions in technology have always tried to make the world more comfortable and better place and until this hopes exists we will certainly only move in positive direction.

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