Market forecasters predict a continued annual doubling of hybrid car sales for the next few years. We could reach the major milestone of one million hybrid cars on American roads somewhere in the 2007 or 2008 timeframe. Again, this is cause for celebration, until you consider that there are approximately 200 million cars in America today—and over 700 million vehicles worldwide. If car numbers keep increasing at the present rate, there will be more than a billion cars and trucks on the road across the world in 20 years. Vehicles are now driven two trillion miles each year in the U.S., and there are more cars than adults.
February 2000 There is no industry more present in the world-wide community than the automobile industry. The automobile has changed the lives, culture, and economy of the people and nations that manufacture and demand them. Ever since the late 1800s when the first “modern” car was invented by Benz and Daimler in Germany, the industry has grown into a billion dollar industry affecting so many aspects of our lives. There are more than 400 million passenger cars alone on the roads today. During the early part of the twentieth century, the United States was home to more than 90 percent of the world’s automotive industry, but has shrunk to about 20 percent in today’s world.
GM employs 321,000 individuals world wide. GM has Manufacturing operations in 32 countries and sells vehicles in 200 countries. In 2004 GM sold nearly 9 million vehicles globally. GM was up nearly 4% and posted its second highest total in company history. Incentives are ran by a company to try and entice a customer to purchase a vehicle.
The Big Three" hold nearly 75% of the market and produce over 8 million automobiles per year. The largest competitors of " The Big Three" are Japanese auto producers that include Toyota, Nissan, and Honda. These three foreign manufacturers hold 20% of the market and produce about 2.7 million automobiles per year. General Motors Company, the world's largest automobile producer, originally was composed of four major vehicle manufacturers- Buick, Cadillac, Oldsmobile, and Oakland which became Pontiac. Presently, General Motors is made up of Buick, Cadillac, Oldsmobile, Chevrolet, Pontiac, and Saturn.
Since the 1920s, when the automobile started in America, the amount of fuel consumption and pollution has spiked tremendously. Today almost every family in America owns an automobile, whether it is used for going to work, school or even just for pleasure; millions of vehicles get used every day. Henry Ford changed the lives of everybody in America by introducing the Model T in the 1920s. Without him there is a possibility that people could still be riding in horse and buggies. By starting the auto industry, he sparked the idea of more travel and even bigger cities because people that lived in rural communities were now able to go to town more than once a month to get supplies.
Other efforts to become more competitive have translated into the European Union dropping trade barriers and European carmakers employing cost reducing efforts. American manufacturers have seen 2-3% growth over the last few years. Some current trends are the explosion in popularity of the Sport Utility Vehicle (SUV) and big luxury vehicles. In the future the global car market is full of potential. There are currently 44 million vehicles and by the year 2002 experts estimate that number will grow to 64 million.
If a buyer of a used car drives off the lot and finds they have purchased a vehicle that needs lots of money spent on it for repairs, they may possibly find themselves out of luck. Another downside may come as more people continue to saturate the market, looking for used cars to buy, the resources available will become scarce. An increase in used car prices may gradually start to rise. As the figures indicate, for now consumers seem to be content with taking this risk. Sales for used cars and trucks last year totaled at 15.1 million(going on your article's figures).
By the end of 2009, the Detroit Three only accounted for 45% of the total U.S. auto market. Another factor that had influence on this was constant fluctuations in gasoline prices and price sensitive consumers. According to the U.S. Department of Energy, gas prices hit record high averaging $3.07 per gallon in May 2007 and kept climbing up to $4.08 in July 2008. As gas prices kept increasing, consumer buying trends have been changing. In 2006 sales for SUVs, pickup trucks, and vans dropped 16%, while the market for compact cars rose by 3%.
The SCS segment operates more than 35 million square feet of warehouse space and more than 10,000 border crossings monthly. The SCS segment’s has over 670 customers including CVS, Toyota, General Motors, Boeing, Whirlpool and Cisco. Ryder Systems, Inc. stocks have paid dividends for 151 straight quarters. Current dividends are $0.34 per share. (Company)
The automotive industry may be based on the fickle nature of the consumer but there is clearly a way to eliminate the waste factor by streamlining manufacturing plants. Flexible manufacturing has already put Ford on the right track. Costs have been decreased by 3.2 billion dollars and have pushed Ford into the black with profits of 1.4 billion in 2003. Ford now has the ability to make nine different vehicles at the same time and can change manufacturing platforms with much less downtime and costs. The Ford line of trucks is poised to take over its foreign competition because they were willing to accept a certain level of risk to achieve a great reward.