Changes in the Automotive Industry

By | May 16, 2017

This may be old news to some of you but the automotive industry is not what it used to be. The days of car manufactures making new cars, slapping an expensive price tag on them and then watching happy go lucky customers drive off the lot in large numbers has passed long ago. With the economy being in the worst shape that it has been in in a very long time, people just don’t have money to waist on vehicles the way that they did once upon a time.

In recent months thing have began to stabilize a little more than the last twelve months. In what was being called the automotive crisis many people lost jobs as almost no cars were being sold. Household names Like GM, Ford, and Chrysler all looked to the government for help. A big reason that the crisis took place was because the automotive industry was weakened by a substantial increase in the prices of automotive fuels. With virtually no fuel efficient models to offer consumers the “Big three” of the American automotive industry watched their sales quickly decrease.

While car companies from other parts of the world had been focusing on making cars targeted at fuel efficiency for many years, most American automobile manufacturers were way behind and therefore suffered the largest loss in sales during the global financial downturn. Hope full the mistakes made by these companies served as a lesson in economic to these companies. Sadly, from the looks of the cars that they are still producing they haven’t.