Industry Analysis & Industry Trends
The Car and Automobile Manufacturing industry endured weak sales during the recession but has since recovered during the current five years due to rising consumer confidence and low interest rates. In addition, more Americans returned to work and consumer sentiment began to recover, making customers more likely to purchase big-ticket items, such as new vehicles. Over the next five years, strengthening economic conditions and returning consumer confidence will continue to fuel the industry, albeit at a slower rate. Automakers will also seek growth potential in the hybrid and fuel-efficient car market as they focus on developing gas-electric hybrid vehicles to increase fuel efficiency and cut exhaust emissions... purchase to read more
Industry Report - Industry Locations Chapter
The largest proportion of industry establishments are located in the Great Lakes area, with 29.3% of total facilities: General Motors in Detroit; Ford in Dearborn, MI; and Chrysler in Auburn Hills, MI. These three companies are often referred to as the Big Three, or the Detroit Three. The recession wreaked havoc on The Big Three, forcing GM and Chrysler into bankruptcy and Ford to make drastic cutbacks. Consequently, these companies closed a number of plants as these companies restructured themselves out of loss-making performances. The number of companies in the Great Lakes region has been falling as a result of the restructuring and the Big Three's financial woes.
The second automotive hub in the United Stated is found in the West Region, which holds 21.3% o.. purchase to read more