The Automotive Industry

Economics Automobile Industry There is no fabrication more(prenominal) present in the world-wide community than the automobile industry. The automobile has adjustmentd the lives, culture, and sparing of the people and nations that manufacture and demand them. Ever since the late 1800s when the kickoff ?modern? car was invented by Benz and Daimler in Germany, the industry has cock-a-hoop 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 affair of the twentieth century, the United States was home to more than 90 element of the world?s automotive industry, barely has shrunk to about 20 per centum in today?s world. This drastic alteration 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 Domesti c Product.? (Tardiff 394) By the arrest of nineteenth century, there were about 500 auto manufacturers, but that calculate dropped sharply to 23 by 1917, and today the declamatory tercet dominate the market. Ford, General Motors, and Chrysler make up the boastful trine which account for 23 percent of the world?s ram 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 sire 5 percent of the international market in 1997. In the US alone, the auto industry, which includes it?s 500,000 car-rel ated businesses, create 12 jillion jobs. T! he automobile is clearly an oligopoly, but each company?s control of the market has gradually diminished because of rising outback(a) 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 demand to get a full essay, order it on our website: OrderCustomPaper.com

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