Business Plan: The Automobile Industry

The history and development of automobile manufacturing stretch back to the end of the 19th century.  At the time the most popular means of transport was carriages, wagons, and horses. During this time, only the wealthy minority could afford to purchase vehicles. It is claimed that there were less than nine buyers for each vehicle produced. By the early 20th century, motorvehicles had gained popularity as a faster and more convenient means of transport. This resulted in higher interest in automobile manufacturing and marketing. The global automobile industry has developed tremendously since the invention of the car. In essence, the growth of the automobile industry is influenced by the external environment, the industry pressures, and competitive environment.

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