Business Environment of Automobile Industry - Research Paper Example

The automobile industry is among the major industries of the US and other countries. This is the industry which has made its market all over the world and has been successful in holding one of the major shares in the market. The vehicles that are produced by this particular industry are the products that have gains the maximum acceptance in the world market (Tuman 10).The report will be looking thoroughly through all the aspects of the US automobile industry. The report will be focusing on the competition that the industry is facing in these days from the international automobile industries from the other countries which may have an effect over the market that the US automobile industry has.

To succeed in the market and to get maximum popularity and the priority of the customers, there are any innovations that have to be made so as to face the competition on the face. The innovation is the main factor that attracts the customers to buy the product and the market of the product seems to increase. In addition to this, the innovation is what makes the industry grow at a faster rate. In addition to this, the next thing that will be seen is the developments that have been successfully achieved by the automobile industry (Wards Automotive Group 10).

Here the developments will be discussed in the terms of the newer forms of the innovations that have been made in the automobiles, any newer ideas that might have been implemented in the automobiles being produced since the least five years so as to implement the innovation in the products being produced.For the analysis of the innovations, the strategies that are being applied by the industry, the main analysis that needs to be done is the PEST analysis.