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The Impact Of The Auto Industry On The US Economy

691 Words3 Pages

For decades the American auto industry has been contributingimmensely on the US economy. Cars manufactured and sold annually can be an indicator of nation's economy health. The impact of the American economy the industry of these industries and their commercial enterprises and the accomplishments was immense. The U.S economy was booming ,especially the automobile industry. In some years ,1o million new cars were sold .For many years afterwards ,American auto manufacturers dominated the world market (investopedia,2015).In as much ,like any other industry the industry is faced with many challenges in its operations. Giant auto manufacturing firms are ,Ford ,Chrysler ,General Motors .
Competition and pricing is one of the challenges in the auto industry environment .According to investomedia ,market share was lost by American cars to these new foreign brands ,which provided better gas mileage ,affordability and attractive design features. But the U.S auto industry ,with the help of the government plans. In light of the above ,the industry was bailed by the government. Recently ,Toyota and Datsun ,Japanese made automobiles ,were imported into the U.S and this resulted into the American auto …show more content…

The lean air Act is also another act that was passed in reaction to environmental pollution control in the industry ,this stipulates that ,90% decrease in automobile emission within the next six years (Gale,2004)The oil crisis also caused the acts to be passed Energy Policy and Conversation Act of 1975..Car manufactures in this regard have managed to create low emission vehicles in the new hybrid

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