The Automotive Industry

Economics Automobile Industry There is no perseverance more(prenominal) present in the world-wide community than the automobile industry. The automobile has adjustmentd the lives, culture, and parsimoniousness of the people and nations that manufacture and demand them. Ever since the late 1800s when the graduation ?modern? car was invented by Benz and Daimler in Germany, the industry has crowing into a billion dollar industry affecting so many aspects of our lives. There are more than 400 gazillion passenger cars alone on the roads today. During the early social involvement of the twentieth century, the United States was home to more than 90 arrogate of the world?s automotive industry, barely has shrunk to about 20 portion in today?s world. This drastic deepen has occurred by the booming economies in such nations as Japan, Germany, Canada, France, Italy, and new(prenominal) nations. The US auto industry ?sales totaled $205 billion, or 3.3 percent of the total Gross Domestic Product.? (Tardiff 394) By the arrest of nineteenth century, there were about 500 auto manufacturers, but that result dropped sharply to 23 by 1917, and today the declamatory terce dominate the market. Ford, General Motors, and Chrysler make up the boastful ternion which account for 23 percent of the world?s beat back vehicle production in 1997, with the Japanese industries orgasm in second, producing 21 percent.

Germany green goodss 9 percent, Spain, France, South Korea, and Canada each upraise 5 percent of the international market in 1997. In the US alone, the auto industry, which includes it?s 500,000 car-related businesses, create 12 ! meg jobs. The automobile is clearly an oligopoly, but each company?s control of the market has gradually diminished because of rising strange competition. The US has three main auto manufacturers, Japan has 5 major producers as does Germany. Each of these companies produce differentiated versions of the... If you needed to get a full essay, order it on our website: OrderCustomPaper.com

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