Toyota, the largest car manufacturer in the world, appointed Akio Toyoda head of the company on 20 January, 2009. Toyoda's grandfather founded the auto giant in 1937 when the auto industry was considered to be a risky venture.

The automotive industry is constantly evolving. Companies buy each other, new models are constantly being released, new legislation is put in place, and consumer habits are ever-changing.

With recent financial turmoil, especially in the consumer automotive market, the industry is evolving (or some would argue collapsing) at speeds never before seen.

Certainly one of the main things we will see in coming years is more fuel-efficient vehicles. This is coming with greater environmental sensitivities and demands in place by consumers, especially in Europe.