Editorial
T
he Automobile Industry is one of the most important sectors
in any country around the world. The importance is drawn
from more factors than just revenue and employment. The
automobile industry is one industry that drives other major industries
such as steel, iron, rubber, aluminum, electronics, plastics, glass,
advertising and marketing, transport and insurance. It is futile to
undermine the revenue potential of the automotive industry for any
economy. However, the environmental factor is a major hindrance to
an exponential growth for most of the automotive industries. This is
the main reason why most of the recent innovations and research are
being done in reducing the emissions or the harmful impact on the
environment.
Being Environment-
Friendly is Proving
to be Benecial for
the Automotive
Industry
One of the most primary measures undertaken by the automotive
industries all over the world is renouncing the traditional Linear
Economic paradigm. This economic pattern was widely adopted at a
time when resources were abundantly available and the demand was
few. This model involved procurement of the raw materials from the
earth’s surface, developing products that remained in the fad for a
few years and then later being replaced with a new trend in the
market. The problem with this model was the changing conditions
that came about with the passage of time. With the rise in demand
and with dwindling resources, the costs of basic resources have
increased substantially. With the rising cost, consumers are looking at
their vehicles as long-term acquisitions. Hence, in order to garner the
image of a long withstanding product, industries are implementing
better durable materials and a more sophisticated level of technology.
Since the industry can no longer afford the scrapping of old cars, the
automotive industry has currently incorporated the efficient circular
economy. With this economy, industries could reuse the deserted
resources into latest technologies and thereby overcome the effects on
the environment and other major operational inefficiencies. With the
adoption of the circular model, manufacturers are reinventing the
design principles to make the entire manufacturing process
environment friendly. The designs are made while keeping the future
possible upgrades in mind and also while considering the usage of
recycled products. This improves the longevity of the end product
and brings the wastage rate almost to zero. This circular practice is
truly proving to be a revolution in the automotive industry.
With the wide acceptance of this model, major automotive players are
adopting the build, reuse and upgrade model. Manufacturers are
increasingly encouraging the consumers to upgrade to the latest
models by submitting the older models instead of scrapping them.
This way, manufacturers are saving on the procurement cost of the
natural resources, building a long-term relation with their clients and
doing their part to help conserve the environment.
Ujal Nair