- The automobile industry has a huge impact on the countries’ economy.
The study conducted by The University of Michigan and the Center for Automotive Research shows:
- This industry is the major user of computer chips, textiles, aluminum, copper, steel, iron, lead, plastics, vinyl, and rubber.
- For every autoworker there are seven other jobs created in other industries.
- In 2001, the total sales of automobiles were 3.7% of the nation’s GDP.
On the other hand - Excess supply (due to foreign imports) has led to spending heavily on marketing and new product design. - Oil crisis & economic situation of some European countries have made a new increasing market for small and fuel-efficient cars. Environmental Analysis- Economic