The globalization of the auto industry is picking up pace as China now is the largest automotive market in the world. Toyota has recently become the largest car manufacturer. The city of Detroit, home to General Motors and Ford has declared bankruptcy. The U.S government has had to bail out GM and Chrysler was sold to FIAT. A new world order is in place with the old being replaced by the new and the Schumpeterian forces of creative destruction are taking their toll. Large business organizations from emerging nations have started their territorial expansion quest focusing on a South to South strategy and are now entering competitive space through South to North activity. Can Chinese and Indian automotive manufacturers follow the path of success of Japanese and Korean manufacturers and is this merely a question solely of "when" or "if".