During these past years, the number of motor vehicles had been reduced because of the economic turmoil that happened in most first world countries. These countries include United States, Japan, and European countries. As this might be the case, the number of automotive industry still dominates the transportation system in the world. With over 70 million of new cars being produced each year, the automotive industry is still one of the greatest sustainer of world economy. According to statistics, there are almost 1.5 million cars produced in Africa, 2.5 million in the Middle East, 4.5 million in Latin America, 19.5 million in USA and Canada, 21.5 million in the Asia-Pacific Region, and 23 million in Europe. The reason behind these statistics is that the markets of North America and Japan grew weaker while in South America and other parts of Asia were able to improve their market and production. Experts say that other countries such as India,Brazil,Russia, and China will play a vital role in maintaining the robust automotive industry.

With millions of new cars produced each year, there had been a greater risk of cars being involved in accidents. This has led many people to secure their property by having car insurance.  Auto insurance  companies are now proliferating and an increase in their sales and projected income for the next years are very encouraging. Auto insurance is one way to protect car owners from potential financial problem that a car accident may bring. There are many risk factors that had been considered to affect the blooming car insurance industry. Such risk factors include man-made and natural calamities, traffic-related accidents, and other unpredictable situations.

Chris Fowler

Cars are really a gift for the civilization of mankind. These cars had greatly improved the quality of living and provided great convenience for many of us.