How would you describe the automotive industry, and how does it function?
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For those with little idea about the automotive industry, it is linked with the production, wholesaling, retailing, and preservation of all kinds of automobiles. The automotive industry consists of car companies and all the activities involved in the production of vehicles like trucks, vans, and passenger and utility cars. Race car builders and commercial vehicles are also part of the automotive industry. A Brief History Despite only lasting a brief time, the automotive industry's evolution is fascinating because of its impact on 20th-century history. Despite the automobile's origin in Europe (late 19th century), the growth of mass manufacturing techniques in the US led to powerful dominance at the beginning of the 20th century. Things drastically changed in the second part of the century as western European nations and Japan emerged as significant manufacturers and exporters. Today, the automobile sector is a significant global industrial and economic powerhouse. It produces ...