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The Auto Industry of Today. The Auto Industry of Today There is no industry more
present in the worldwide community than the automobile industry. ...
The Auto Industry of Today. The Auto Industry of Today There is no industry more
present in the worldwide community than the automobile industry. ...
... The real big change as we see in the industry today, started to take place ... The prospects
of the industry also has a bearing on the auto-component industry ...
... today, especially SUVs, which are predicted to be in heavy demand or even a standard
feature on the new cars in the next few years. Lastly, the auto industry ...
... Today, the " Big Three" is able to produce ... conclusion, the United States automobile
industry, which pioneered ... leader and will lead the auto industry into the ...
Submitted by oppapers on July 26, 2002
Category: Business
Words: 2268 | Pages: 10
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The Auto Industry of Today
There is no industry more present in the worldwide community than the automobile industry.
The automobile has changed the lives, culture, and economy of the people and nations that
manufacture and demand them. Ever since the late 1800s when Benz and Daimler in Germany
invented the first “modern” car, the industry has grown into a billion dollar industry affecting so
many aspects of our lives. There are more than 400 million passenger cars alone on the roads
today. During the early part of the twentieth century, the United States was home to more than
90 percent of the world’s automotive industry, but has shrunk to about 20 percent in today’s
world (Tardiff 394).. This drastic change has occurred by the booming economies in such nations
as Japan, Germany, Canada, France, Italy, and other nations.
The US auto industry “sales totaled $205 billion, or 3.3 percent of the total Gross Domestic
Product” (Tardiff 394). By the end of 19th century, there were about 500 auto manufacturers, but
that number dropped sharply to 23 by 1917, and today the Big Three dominant the market. Ford,
General Motors, and Chrysler make up the Big Three, which account for 23 percent of the
world’s motor vehicle production in 1997, with the Japanese industries coming in second,
producing 21 percent. Germany produces 9 percent; Spain, France, South Korea, and Canada
each produce 5 percent of the international market in 1997. In the US alone, the auto-industry,
which includes it’s 500,000 car-related businesses, creates 12 million jobs (Broughty 290). The
automobile is clearly an oligopoly, but each company’s control of the market has gradually
...
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