The automobile sector is a global industry worth over $2 trillion annually. Emerging markets now account for over half of global vehicle sales, a trend that is accelerating. Major automakers like Toyota, GM, and Volkswagen produce over 50 million vehicles each year across countries like the US, Japan, Europe, India and employ over 50 million people directly or indirectly. Factors that impact the automobile industry include material and labor costs, technology, advertising, government policies, and demand drivers like consumer income and financing availability.