Automobile Industry

The Automotive Industry…

Designs, develops, manufactures, markets, and sells the world's motor vehicles. In 2007 alone, more than 73 million motor vehicles, including cars and commercial vehicles were produced worldwide.

Due Rapidly Rising Oil Prices…

The automotive industry is experiencing a combination of pricing pressures from raw material costs and changes in consumer buying habits. The industry is also facing increasing external competition from the public transport sector, as consumers shift their modes of travel away from that of their own privately owned vehicles.

The Automotive Industry Crisis Of 2008…

Occurred mainly as a result of the global financial crisis and the related credit crunch. In the United States, due to the various pricing pressures, larger vehicles, such as SUVs, suffered in terms of sales. In certain countries, particularly the United States, the industry has also suffered from relatively cheap imports available from many of the Asian countries. As of November 2008, the Big Three U.S. manufacturers, General Motors, Ford and Chrysler, indicated that unless additional funding could be obtained soon, then there would be real dangers of bankruptcy.

There are many major portions of the automobile industry to include corporations and unions. Below are a couple of the major players in the Industry:

UAW Ford
UAW Chrysler
General Motors

Here are a couple articles that sparked my interest in the topic:

News Article
2008 Free Press Auto News
Penn Live News

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