Automotive Industry Essay - 1960 Words

The Automotive industry is one of the biggest and most important industries in our today’s world. For many people today it is inconceivably to not own a car, since they are depending on it to get to work or several other places like holidays or relatives or even to just make the local shopping trip easier. Within the Automotive industry there are several interesting things to look at. Starting with the history of the industry all the way to looking at modern industries’ leading manufacturers changing the world we live in significantly.. Furthermore there are several interesting aspects regarding the actual product that is provided and how the industry is able to survive and grow effectively. Moreover the Automotive industry despite their†¦show more content†¦Furthermore the number of employees also matters in indicating the size of a firm. As we look at Graph 5 we can see that Volkswagen had 501.956 employees at the end of 2011. In comparison to that we have T oyota with 317,716, General Motors with 207.000, Hyundai with 80.185 and Ford with 198.000 employees. This gives another indication about the size the car industry has. All the companies mentioned above are called mother companies sine they own other smaller car manufactures. Volkswagen owns Audi as well as Porsche, Lamborghini, Bentley as well as Seat, which are all owned by the Volkswagen group. Another example of a so-called mother company is Toyota who is the owner of Lexus, Scion, Hion as well as Daihatsu. Graph 3: Toyota: Graph 4: Graph 5: There are a few problems concerning the Automobil industry the most vital one being that the global demand for cars has slowed down throughout the financial crisis. There are a few reasons for this to happen. One of the most obvious reasons is the fact that through the financial crisis in 2008 the living standard of many people has changed and there isn’t enough willingness by the consumer to spend money on something that is as expensice as a car. People are struggeling to survive and rather spend the money on the life essential thing as food and drinks. The fact that there isn’t enough consumer spending brings up another point that is a ahrm to theShow MoreRelatedAutomotive Industry Essay711 Words   |  3 PagesThe housing industry isn’t the only American business that has gone through withdrawals in the last fifteen years. In 2008, the automotive industry hit a critical point when the United States government was forced to bail out General Motors and Chrysle r. However, this wasn’t the first time the automotive industry had struggled in this nation. The years following the United States’ involvement in the Vietnam War saw many American automotive companies losing their profits. 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