The Automotive Industry has been a defining part of Australian Culture, both today and in the past. Cars have been the crux of our society, with billions of dollars put towards the industry each year. The Australian Automotive Industry’s integrity has been threatened in the past couple of years, and it has lost its stability due to lack of sales and withdrawal of manufacturing. Now, there are many reasons for this, most paramount of which is globalisation. First of all, we must look at what globalisation is and understand it fully before looking at its implications on the Australian automotive industry. Globalisation can be defined as the increasing economic and financial integration of economies around the world. The term broadly refers to the worldwide changes that are taking place to remove national boundaries from the financing, production, sale and distribution of goods and services. Globalisation has a firm stance in our economy, with the Australian economy being largely benefited. …show more content…
No longer will the current generation fondly remember driving a classic Ford Mustang or Holden. Instead we have seen a monumental surge in the amount of compact, affordable Japanese hatchbacks on our roads. This new market has negatively impacted the Australian Automotive industry, causing many companies to go under. Industry Summary: The Automotive Industry is a highly turbulent and dominated industry. It is incredibly hard to become one of the leading manufacturers, with the top 10 global carmakers accounting for over 80% of the worldwide production and nearly 90% of all vehicles sold in the United States. The most crucial part of surviving of the Automotive Industry is to stay competitive. Many leading car companies do this through designing vehicles that cater to the largest proportion of consumers. Government