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The economic downturn of 2008-2009 and the disaster that hit Japan in 2011 exasperated the structural problems of the automotive industry, ranging from over-stretched supply chains to excess capacity and pressures to generate more environmentally-friendly products. Car production recovered swiftly from 2008 but several of the largest car manufacturers are in trouble, and the industry suffers from low levels of profitability. This book outlines the status of the industry and analyses the challenges that car-makers are facing, taking advantage of the multidisciplinary and cross-country expertise of the authors. Its chapters underline the importance of emerging markets, not only as drivers of demand growth but possibly also as loci of future innovations.