Due to digitalization, connectivity, evolving powertrain technologies, tougher regulations, and shifts in consumer attitudes have created unprecedented challenges as well as opportunities for the Automobile industry. In pursuit of sales growth, global automakers have invested heavily in emerging markets. But slower demand has highlighted the risks of these investments. by setting up local subsidiaries or joint ventures, major companies have expanded into emerging markets. Domestic manufacturers in emerging markets have tax benefits and other policies that give them an advantage over foreign competitors. Cars and light trucks are major products.
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