nfljerseys Latent Demand for Automotive Electrical Products in India

the automotive industry, one of the largest industries in the world, has left its mark not only the economy but also the cultures of the world. The a nfl jerseys utomotive industry is involved in the design, development, manufacture, marketing and sale of motor vehicles. More than 73 million motor vehicles such as cars and commercial vehicles worldwide in 2007 were a total of 71.9 million new cars sold 22.9 million in Europe, Asia-Pacific and 21.4 million 19.4 million U.S. and Canada . While the markets have stagnated in North America and Japan, which rose from South America and Asia, with the fastest growth from Russia, Brazil and China.

The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential earnings (P.I.E.) or total revenues (not profit) if India is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The “market” is defined at a given level in the value chain. There can be latent demand at the lev nfl shop el, at the level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).

The latent demand for automotive electrical products in India is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual in a market.


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