Automoblie Industry

Mark Geraghty AP Economics Automobile Industry
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. This drastic change has occurred by the booming economies in such nations as Japan, Germany, Canada, France, Italy, and other nations. The US auto industry ?sales totaled $205 billion, or 3.3 percent of the total Gross Domestic Product.? (Tardiff 394) By the end of 19th century, there were about 500 auto manufacturers, but that number dropped sharply to 23 by 1917, and today the Big Three dominate the market. Ford, General Motors, and Chrysler make up the Big Three

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