Why insurance is dependent on the age of the drivers?
With police statistics and scientific studies it shows that young people are the most common cause accidents on the roads. Too high speed, the desire to impress colleagues or colleagues and little experience in managing vehicle are the main causes of dangerous incidents on the road. It is not surprising that insurers often make the amount of insurance premiums was the age of the holder of the vehicle and the number of road events with his participation. Young people, often breaching the rules of the road are in fact for insurers customers not profitable and that is why they use this kind of preventive measures, such as increasing fees for insurance with every accident.
Economy issue of Automotive industry
Around the world, there were about 806 million cars and light trucks on the road in 2007, consuming over 980 billion litres (980,000,000 m3) of gasoline and diesel fuel yearly.7 The automobile is a primary mode of transportation for many developed economies. The Detroit branch of Boston Consulting Group predicts that, by 2014, one-third of world demand will be in the four BRIC markets (Brazil, Russia, India and China). Meanwhile, in the developed countries, the automotive industry has slowed down.8 It is also expected that this trend will continue, especially as the younger generations of people (in highly urbanized countries) no longer want to own a car anymore, and prefer other modes of transport.9 Other potentially powerful automotive markets are Iran and Indonesia.10 Emerging auto markets already buy more cars than established markets. According to a J.D. Power study, emerging markets accounted for 51 percent of the global light-vehicle sales in 2010. The study, performed in 2010 expected this trend to accelerate.1112 However, more recent reports (2012) confirmed the opposite; namely that the automotive industry was slowing down even in BRIC countries.8 In the United States, vehicle sales peaked in 2000, at 17.8 million units.13
Car - Wikipedia
A car is a wheeled, self-powered motor vehicle used for transportation and a product of the automotive industry. Most definitions of the term specify that cars are designed to run primarily on roads, to have seating for one to eight people, to typically have four wheels with tyres, and to be constructed principally for the transport of people rather than goods.23 The year 1886 is regarded as the birth year of the modern car. In that year, German inventor Karl Benz built the Benz Patent-Motorwagen. Cars did not become widely available until the early 20th century. One of the first cars that was accessible to the masses was the 1908 Model T, an American car manufactured by the Ford Motor Company. Cars were rapidly adopted in the United States of America, where they replaced animal-drawn carriages and carts, but took much longer to be accepted in Western Europe and other parts of the world.