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The Automobile Industry in the US in 1920s - Essay Example

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Author : bertamayert

Summary

This essay describes the trends and main events in the automobile industry of the United States in 20th century. The researcher focuses on the analysis of this engineering sector, that is involved in the devising, growth, production, and selling of vehicles in the U.S…

Extract of sample
The Automobile Industry in the US in 1920s

This essay discusses the automobile industry, that is a huge part of the engineering sector and is involved in the devising, growth, production, and selling of vehicles. It is one of the major industries in the world in terms of economic worth and revenue. The definition of the industry, though broad, is limited to the production and sale of automobiles, and does not include after-sales services like repair and maintenance. The industry is laden with events and milestones that marked its start and evolution to what it is currently. Firstly, the researcher dicusses the onset of the American automobile industry and mentiones companies, such as Ford, General Motors, and Chrysler, that were the big players in the United States in the 1920s. The researcher discusses the Great Depression that happened in the late 1920s and severely depleted General Motors’ financial strength. This was what that gave the Ford Company a much-needed lifeline. The General Motors’s market share all but disappeared, thereby greatly depleting its income avenues. The market stake of the Ford Company shot up drastically. In conclusion, the researcher states that Ford company managed to survive through the trying times mainly due to the backing of its continuous perfect performance of its financial services sector. However, reclaiming its position as the world’s biggest automotive producer is not an easy task. The frequency of changing technology and fluctuation of markets will certainly be a problem for most companies. ...
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