1. Vehicles: This includes various types of automobiles such as cars, trucks, buses, motorcycles, and specialty vehicles.
2. Vehicle Parts and Components: Tangible property also encompasses the individual parts and components used in the production of vehicles. This may include engines, transmissions, tires, wheels, brakes, suspension systems, electrical components, and more.
3. Machinery and Equipment: The automotive industry utilizes specialized machinery and equipment for vehicle manufacturing and repair. This includes assembly lines, robotic welding machines, paint booths, diagnostic tools, tire changing equipment, and other necessary tools and machinery.
4. Real Estate and Facilities: Tangible property includes the physical structures and facilities used in the automotive industry. This may include manufacturing plants, assembly plants, dealerships, garages, repair shops, and other facilities involved in the production and maintenance of vehicles.
5. Inventory: Tangible property also encompasses the inventory of vehicles and parts held by manufacturers, dealers, and repair shops. This includes both new and used vehicles, as well as spare parts and components.
6. Equipment Used in Vehicle Service and Repair: In addition to machinery and equipment used in vehicle production, the automotive industry utilizes specialized equipment for servicing and repairing vehicles. This may include diagnostic tools, lifts, wrenches, scanners, and other equipment necessary for maintenance and repairs.
These tangible assets play a crucial role in the operations and activities of the automotive industry, contributing to the production, sales, and servicing of vehicles.
