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People now have access to the best in terms of home appliances, offices and automobiles. Digital components have made life very easy for individuals. Things that were expensive at a time are now available within our budgets, and automobiles are one of those. There are certain situations that have bought sudden changes in the automotive industry.

Unstable financial markets, rising fuel prices, and increasing taxes are some of the problems faced by the automobile industry. The U.S. economy and weak dollar conversion rates have contributed to the increase in crude oil prices. This has a direct impact on the automobile industry.

Automobile users have not changed their approach towards purchasing fuel and petrol despite the growing fuel prices

Effect Of Rising Prices On Automobile Users:

Environmental issues are not important for auto users. They are unaffected by the rising fuel costs and are prepared to continue driving.

Car manufacturers and dealers have seen a marginal loss in the sales of vehicles. European and American markets have reported huge losses in the automobile industry. There is an increase in used car sales and decrease in new car sales. Sales of automobiles are on the rise via the Internet. Manufacturers have to switch to the World Wide Web medium to increase the sales.

Hence, there is going to be a massive increase in vehicle taxes, toll and parking charges. There is an immediate need to find an alternative to road use with a reliable and clean public transport. While the government is trying its best, insurance companies are stable and earning a lot because of the competition in the automobile industry.

Developments in The Automotive Industry:

Electronic devices have played a vita role in the automobile industry. There are huge numbers of electronic devices installed in automobile manufacturing plants. For example, cars are using electronic devices. Thus, listening to music in automobiles without interruption is just one of its kinds to explain the impact of electronics in the automobile industry.

Telecommunication has also played a major role in the automotive industry. In recent times, this industry has been gaining more attention from car manufacturers. An average automobile manufacturing company spends thousands of dollars on electronic devices for every vehicle. Increase in using electronic devices in automobiles is reflected in the form of entertainment systems, security features and safety devices.

Some of the common electronic devices used in automobiles are:

1. Controlled Area Network: There are separate computers fitted in the vehicle. The Controlled Area Network allows these computers to communicate with one another.

2. Fuel efficiency: The rising prices of fuel have forced the automotive industry to manufacture fuel-efficient automobiles. New technology in automobiles has a unique function to switch between fuel and electronic engines.

Alternate fuel:

As prices of fuel have increased, there is an increasing need to switch on alternate sources of fuel. Water is one best source of energy. Researchers have proved that water can run cars. Scientists also claim that energy extracted from water can be used instead of fuel. Water mixed with normal gasoline is another alternate solution. Automobile industry is trying hard to discover other technologies for reducing all these costs.