Demand for automobiles is growing worldwide with economic growth in developing countries. For example, Tata Motors is expected to introduce a $2,500 auto for the India market in mid 2008 and Nissan announced plans for a $3,000 auto for the India market (David, 2007). Motor bikes are popular in many parts of the world and hydrogen power vehicles are being developed for this market (Green Bike, 2007).
Just small percentage changes in these large populations will be huge in terms of absolute grow. For example, the McKinsey Global Institute projects the growth in India’s middle class from the current 50 million to 583 million people by 2025 (as qtd. in Beinhocker, 2007). The oil situation will only get worst.
References:
Beinhocker, E., Farrell, D., and Zainulbhai, A. (2007, August). Tracking the growth of India’s middle class -Over the next two decades, the country’s middle class will grow from about 5 percent of the population to more than 40 percent and create the world’s fifth-largest consumer market. McKinsey Quarter. Retrieved December 1, 2007 from: http://www.mckinseyquarterly.com/Economic_Studies/Country_Reports/Tracking_the_growth_of_Indias_middle_class_2032
Green Bike. (2007, November 15). Green Bike - Rob is Loughborough to see the world's first fuel cell powered motorbike. BBC News. Video. Retrieve from http://www.bbc.co.uk/broadband/mediaplayer/players/bbc2/nb_wm_console.shtml?redirect=console.shtml&lang=en&nbram=1&nbwm=1&bbwm=1&bbram=1&ms3=6&ms_javascript=true&bbcws=2&package=4588723&clip=wl_thu_151107_segment1
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