Globalization

In terms of vehicle assembly, nearly one-third of the global automotive industry’s growth over the period 2004-2012 will come from China. India and Eastern Europe are also quickly emerging as strong growth markets during this period. Even now, many automakers are realizing greater profits in emerging markets than in the more mature regions they call home.

PricewaterhouseCoopers AUTOFACTS forecast 2007

Additionally, with foreign manufacturers like Hyundai-KIA, Toyota, and BMW expanding their manufacturing operations in the U.S., there are likely to be both international and domestic positions available with some overseas companies. The Association of International Automobile Manufacturers estimates that by 2009 these foreign automakers will have invested $3.3 billion and hired 10,000 additional workers in the United States.

In fact, Asian car manufacturers, led by Toyota and Honda, are experiencing tremendous success in general. In 2006, Toyota's 2006 sales figures topped those of Chrysler – the first time any of the Big Three have been outsold by any other manufacturer. South Korean makers like Hyundai and KIA have shown themselves to have true staying power and now have a growing global customer base.

The Asian consumer marketplace is also showing significant growth. Automotive manufacturers from all over the world have rushed to establish their presence in China to serve a burgeoning domestic market created by the explosive growth of the Chinese economy and the rising affluence of their consumers. With the low labor costs and increasing product quality offered by China, manufacturers are looking for export opportunities as well. While motor scooters are still selling as fast as ever in India, the growing middle class of this outsourcing giant has begun demanding more cars and has sent vehicle sales soaring. There is also a growing manufacturing sector in that country, with the Tata Group planning the 2008 launch of a low cost, no-frills Indian car.

European manufacturers are grappling with the same high costs that the U.S. manufacturers face, and with the labor laws and regulations unique to that market there have been some delays and problems in the recent past. But the European market remains strong and full of opportunities, with Audi and Porsche continuing to show excellent results and BMW showing consistent growth in market share.

So the industry needs just as many engineers as ever. The job market isn't shrinking so much as it is changing focus and becoming less centralized.