The World Automotive Industry

The World Automobile Industry is enjoying the period of relatively strong growth and profits, yet there are many regions which are under the threat of uncertainty. Carmakers look for better economies, market conditions which are ideal to have a successful stay in the industry. The automotive industry has a few big players who have marked their presence globally and General Motors, Ford, Toyota, Honda, Volkswagen, and DC are among them. It has also been suggested that automotive industry has accelerated more, after the Globalization period, due to easy accessibility & facilities among nations and mergers between giant automakers of the world.

Moreover, the advancements in industrialization led to a rise in the growth and production of the Japanese and German markets, in particular. But in 2009, the global car and automobile sales industry experienced a cogent decline which was during the global recession, as this industry is indirectly dependent on to economic shifts in employment and spending making, it vulnerable. While demand for new and used vehicles in mature markets (e.g. Japan, Western Europe and the United States) fell during the economic recession, the industry flourished in the developing economies of Brazil, Russia, India and China. Boost in global trade has enabled the growth in world commercial distribution systems, which has also inflated the global competition amongst the automobile manufacturers. Japanese automakers in particular, have initiated innovative production methods by adapting and modifying the U.S. manufacturing model, as well as utilizing the technology to elevate production and give better competition. The World Automotive industry is dynamic and capacious, accounting for approximately one in ten jobs in developed countries.

Developing countries often resort to their local automotive sector for economic growth opportunities, maybe because of the vast linkages that the auto industry of the country, has to other sectors. China is by far the largest market for sales followed by Japan, India, Indonesia, and Australia. Sales figures of 2005 to 2013 indicate that sales for vehicles in China doubled during this period, while Indonesia and India also benefited. However, there was slump in sales during this time in Australia, New Zealand, and Japan. Interestingly, this year competition in the truck segment has become more intense, with the three big U.S. automakers striving for supremacy in both performance and fuel economy. The Japanese aren’t giving up, either, with both Toyota and Nissan launching new pickups in 2015.

India is the seventh largest producer of automobiles globally with almost an average production of 17.5 million vehicles with the auto industry’s contribution amounting to 7% of the total GDP. It has been estimated that, by 2020 the country will witness the sale of more than 6 million vehicles annually. India is expected to be the fourth largest automotive market by volume in the world where, two-wheeler production has grown from 8.5 Million units annually to 15.9 Million units in the last seven years and tractor sales are expected to grow at CAGR of 8-9%, in next five years, making India a potential market for the International Brands. As 100% Foreign Direct Investment is allowed in this Sector, India is expected to have a speedy expansion, to, soon to become the largest automobile Industry. While India is second largest manufacturer of two- wheelers and largest of motorcycles, it is also estimated to become the 3rd largest automobile market in the world by 2016 and will account for more than 5% of global vehicle sales. As large number of products are available to consumers across various segments, providing a large variety of vehicles of all the types, manufacturers aim towards customer satisfaction and loyalty.

Following the FDI policy, entry of a number of foreign players with reduced overall product lifecycle and quicker product launches have become a regular occurrence in the automotive industry of the country. Indian auto market is seen as the potential market which can dominate the Global auto industry in coming years. Moreover, giant dealers and manufacturers are inclining towards the country because of ease of financial norms as well as an environment so conducive to support in their projects.

With Narendra Modi’s Make in India Campaign, the automotive industry is expected to witness quite a few changes, where 800 Cr have been allocated in the Budget to promote the Energy and Hybrid Vehicles manufacturing. This move is expected to cut down the prices making these electric and hybrid vehicles cheaper and more eco-friendly. It is also expected that this move will curb down the carbon dioxide emissions to 1.5% till 2020. This program will subsidize the purchase of new hybrid and electric cars, as well as other vehicle types. It specifies incentives of up to 29,000 rupees for scooters and motorcycles, and up to 138,000 rupees for cars. Three-wheeled vehicles, light commercial vehicles, and buses will also be eligible for incentives of varying amounts as well.

The used cars sector in India has emerged as one of the major industries due to its easy accessibility and lower rate of interests. But growth in used car sales are lower than new car sales as people still prefer to purchase new cars as opposed to buying used ones. A big reason of this could be the fact that there is a reduced supply of used cars, and high prices of these used cars are pushing the consumers to opt for the low priced new cars. But despite of lower growth compared to new cars segment, used car industry has been showing a fast and steady growth. According to the industry analysts, the sales of used cars are expected to boost up in the next few years.

Till last decade, consumers were involved in unorganised sector of Used Vehicles industry, there were no organised players to assist the consumers in buying of used vehicles, and about 60% of used vehicle sales were customer to customer where there is a trust factor. The remaining sales were managed by the local dealers. But then in 2001, Maruti came with the first company of selling used cars in 2001- Maruti True Value. Despite the automobile industry witnessed slow sales numbers in the last few quarters, the used or pre-owned car segment is growing fast, and is likely to accelerate in future. In fact in the last fiscal year, more used cars were transacted, 10% more than the new ones, according to the assessment by Maruti Suzuki India Ltd. and Honda Siel Car India Ltd. With the organised players stepping in, the used cars market has benefited from fair deals, warranties, better retail network, credibility, transparency, easy availability of finances. These have all made buying a used car easy. Organised used car showrooms provide the platform to the prospective consumers to choose cars from various brands and segments. Car makers have realized the potential of used car market and are making conscious decisions to operate in the pre-owned car sector also. Besides exhibiting multiple brands, the branded used car retailers, also offer one-stop shop for all inquiries and grievances. All the major Car dealers have now established their pre-owned car segment retail showrooms, Maruti True Value, Ford Assured, Hyundai Advantage and Toyota U Trust are some of the major used car dealers.

Constant decline in fuel prices and better financial policies in the past year are the factors that are being expected to be the reasons for the number of new buyers to be increased in the market, which declined in 2013-14. But during this period, one segment that benefited from this decline was the used vehicle market, with increased awareness, financial reforms and organized firms. Most of these used cars buyers are younger people who prefer buying Pre-owned cars which come at lower prices and they get a good bargain for the same. Indian used vehicle market which is still, almost quarter of new vehicle market is growing at a rapid pace. The Pre-owned car sector is expected to grow by 15-18% in coming years.

Also with the rising in number of organized players have boosted the amount of confidence people are putting in buying a pre-owned car. These players not only offer a good line up of used cars but also offer finance & extensive vehicle check facility for 100% customer satisfaction.

The Automotive Industry is an important part of every economy as it is interrelated to growth of sectors of the economy. India as one of the progressing economy is resolving towards making its automobile industry more and more successful ultimately, linking it to overall development. With the Make in India Campaign and promotion of eco- friendly vehicles, India is expected to soon to become largest automobile industry globally. Used vehicle industry is expected huge gains with more and more people resolving to it along with the growth in the new car market. With more resources for the buyers and sellers, the automotive industry is expected to flourish meritoriously in coming future ultimately taking the country forward.

Six Tips for a Stress-Free Holiday Season

If you are thinking about the holidays right now and frowning, smooth your face, square your shoulders and take a cleansing breath. A little positive thinking can go a long way in helping you to enjoy the holidays this year instead of agonizing over all the little details. These 6 tips for a stress-free holiday season will start you off on the right foot.

1. Plan ahead. Print out return address labels for cards (I’m really doing it this year – bad hand cramping), update your address book, make room in your front hall closet for guest coats instead of piling them on a bed like usual, and prepare guest rooms ahead of time. Tackling a few of these tasks before you get really busy can make a world of difference.

2. Rethink your gift giving. Cut down on the mad shopping rush and stress of finding exactly what everyone wants this year – consider giving experiences instead of material gifts, and maybe even implement The Four Gift Rule. My extreme-gift-giving mom is actually trying it this year. Thanks, Mom!

3. Keep things simple with food and décor. Stick to your favourite recipes instead of trying something complicated and new, and a simple homemade centrepiece is all you need on your table. Please don’t belittle yourself for not having matching napkins and candleholders! Focus more on the family and friends you are gathering with rather than stressing over too many fussy preparations.

4. Have a few extra gifts on hand. A small stash of thoughtfully wrapped gifts is perfect for unannounced friends or last-minute invites. Choose items that have universal appeal and can be used by you and your family if they are still around come January. Think locally-made condiments, soy candles, handmade chocolates, wine and preserves.

5. Be choosy when it comes to events. This can be tough for social butterflies (my husband) and people who have trouble saying no (me). Only accept invitations to gatherings that are pertinent to the holiday and meaningful to your family. When planning your own event, keep it small and intimate with just a few close friends and relatives. We used to have a big Christmas open house but after a few years, we realized it was too chaotic as we spent most of our time greeting and seeing friends out, refilling glasses and snack bowls, and making sure little ones didn’t trash our house (even if they were adorable). Choose to host big parties at a different time of the year, when there is less going on and you are not so taxed.

6. Live in the now. As you trim the tree or make cookies with your kids, don’t forget to pause and really live in the moment. Don’t worry about what’s still on your to-do list (there’s always something), because before you know it the holiday will be over and you’ll be disappointed that you didn’t make the most of it. Also, carve out some time to do something just for you – take a walk, read your book, have a hot bath – it will go a long way in helping you to keep your sanity during the holidays.

Fermented Foods – Choose Beneficial

Many vegetables are grown in a fertile valley far away. Almost as soon as they are harvested, they are flash-frozen and transported on refrigerated trucks to a supermarket near you. You have a freezer at home, and the delivery of healthy nutritious vegetables from farm to consumer is completed easily. Refrigerated trucks keep fresh-picked vegetables viable long enough that your green grocer’s shelves remain well-stocked throughout the year.

Go back just a few decades, and you will find that this was not the case. Winter produced very sparsely populated shelves in the green grocery section of the market. Go back just a few more decades and you will discover that people had to find creative ways to sustain themselves through harsh winters and on long journeys. For thousands of years, people have fermented foods to preserve them for when supplies of fresh foods were not available.

The Romans preserved cabbages with salt, and Genghis Khan fed his armies fermented cabbage to sustain them on their campaigns through Europe. This use of preserved, fermented foods was a common practice for travelers as a source of nutrients. As late as World War I, allied forces relied on fermented cabbage, or sauerkraut as we now know it, to supply nutrients to soldiers on the battlefields of Europe.

The process of fermentation helps to preserve the food for use many months later. Fermentation also generates many health benefits for the consumer. The essential nutrients and vitamins are preserved. Sugars are broken down so they are more easily absorbed with far less insulin or allergy reaction, in the case of lactose intolerance to dairy products. The process also generates enzymes that are essential to supporting the digestion of foods that we eat. Finally, they are natural probiotics, jam-packed with beneficial microorganisms.

A healthy gut, supported by a strong population of beneficial bacteria, serves as a powerful booster for your immune system. The digestive tract is where nutrients are extracted from food and absorbed by the body. Enzyme and microbial activity accelerates digestion and generates enzymes, vitamins and antioxidants that are essential to health. They also protect us from pathogens and flush out toxins from our bodies.

You can find a variety of ready-to-use fermented products at your local supermarket. They include yoghurt, which is fermented milk (usually cow’s milk). The fermentation process breaks down the milk lactose to make it easier to digest and the yoghurt supplies billions of helpful bacteria. Be careful of brands with large amounts of sugar added, as that will create other problems. Another healthy fermented product from milk is kefir, a drink often found in the supermarket refrigerator.

Kombucha tea is another good source of enzymes and beneficial microbes. Kombucha is made from fermenting black tea. Other products you may find in the supermarket include kimchi, a Korean version of fermented cabbage and a mixture of other vegetables. Raw apple cider vinegar is also loaded with beneficial bacteria and has many different uses apart from supporting a healthy digestive system. You may find Japanese products like miso, and natto, both loaded with microbes and used in cooking soups, marinades and sauces.

If you feel adventurous, the processes for making your own fermented yoghurt, kefir, pickles and kimchi are relatively easy and they require no special equipment. Select healthy organic ingredients and you will be able to rely on the process for creating your own healthy, nutritious probiotic foods.

Why Your Company Needs Cyber Privacy Insurance

The universe in which we live in is so very different than how it used to be. Home and personal life has been drastically improved.The general difference in our present lives is particular evident in the manner in which business conducts activities. Technology has taken over virtually every aspect of commercial performance in all industries – worldwide!

With the advancement, however, there remains serious cyber and privacy breach liability. Companies that protect themselves with Cyber and Privacy Insurance can rest assured that they have the necessary coverage in the event of a data breach.

Privacy Claims Instances that Could Very Well Occur to any Business:

• A large healthcare provider partnered with a national merchant to help with its office move. In middle of relocating, the healthcare provider learned there were a number of laptop computers missing. The laptops all contained personal data of members. After consulting with a lawyer and forensic vendors affected parties were notified and offered credit monitoring services. The healthcare provider was investigated and became the defendant in a class action lawsuit. Data breach costs reached $7,000,000 and privacy liability costs came to $2,000,000.

• An online retail shop was hacked and shoppers experienced fraudulent credit card charges. The shop’s tech support employees asked the host web-company to review the stored server data. The web-company discovered a virus and removed it. However, the breach compromised privacy of almost a million records, plus fraudulent usage of 50 credit cards. Besides this, the online shop acquired fines and penalties as a result of not being Payment Card Industry. Data breach costs amounted to $750,000 and privacy liability costs came to $500,000.

• Two employees of a $100 mil retail outlet stole credit card info from a client and fraudulently utilized it for personal shopping. The workers was caught in the act and legal action was taken against them. The retail outlet shop provided credit card monitoring services to its customer (the victimized credit card owner) and provided compensation to her for any related damages. Privacy liability costs amounted to $75,000.

• A $50 million business servicing corporation organized a mailing project for a client and accidentally sent out about 60,000 envelopes displaying account numbers. Data breach costs amounted to $320,000.

• A neighborhood municipality mistakenly posted tax licenses on its website, leading to improper release of personal data. The municipality used forensics services as well as the services of an attorney’s and a public relations company. The municipality also notified affected people and offered credit monitoring services. Data breach costs reached $150,000.