Impact Of The American Auto Industry On The Economy

Several factors have affected how the American auto industry now positions itself on the world market, and big changes have been made to reflect this new direction. The introduction of new technologies in vehicles, the growing market for cars in new developing markets, the impact of the industry on the environment, legislative responses and demands, as well as the increased expectations from consumers, are some of the factors. More international cars are being designed, manufactured and bought by American consumers and exported to foreign markets today than those exclusively manufactured by American companies, redefining the American auto industry, while having a positive impact on its economy. International brands accounted for 45% of total sales in the U.S. in 2013 and have now risen to 59% of the market, and continue to grow. While the amount of American cars has decreased in the local U.S. market share to international ones, the increase of foreign car production on U.S. soil has had the effect of creating new jobs for Americans both in the auto industry as well as in related new industries. The industry has seen huge growth numbers in the last few years with more growth expected. The automotive industry is the 3rd largest worldwide in research and development with Ford and General Motors leading with billions in investments. The increased access to data and information has been significant, and new technologies have also ushered in a new era with electronics which nowShow MoreRelatedEnvironmental Issues Facing Automobile Industry1071 Words   |  5 PagesENVIRONMENTAL ISSUES FACING AUTOMOBILE INDUSTRY IN AMERICA The development of automobile industry in America started in 1896, when Henry Ford built the first American car. 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