Our collective industries are being impacted upon by a wide array of factors. From tightening emissions legislation and fuel economy standards to the rising importance of emerging markets, all have the potential to create new opportunities and pressures. However, these changes are being accelerated by the impact of the global economic downturn. After a period of high growth, the automotive industry experienced tough times in the recession and is now in recovery mode. Financial distress continues among suppliers and many original equipment manufacturers (OEMs), leading to consolidation and budget constraints. Traditional tailpipe emissions remain important, but carbon dioxide (CO2) and fuel economy standards increasingly take precedence when it comes to allocating the available R&D budgets and are the major drivers of powertrain technology developments.
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