The invention of the America automobile is commonly disputed, but it is evident that the creation of the automobile industry has made a significant impact on American history (Madden, 2003). The first automobile was made and sold by the Duryea brothers in 1895 (Madden, 2003). Since the creation of the first American automobile, the auto industry has seen numerous changes, and has evolved into an influential part of the American economy. Research has found that in the United States, the automotive industry makes up to 3.5 percent of its Gross Domestic Product (Hill, Menk, & Cooper, 2010).
Over the years, numerous changes have occurred and the auto industry has become a mature industry for consumers. A mature industry, defined as an industry …show more content…
As government regulations and incentives, and consumers continue to explore alternatives to gas operated vehicles there is going to be many attempts to enter into the industry, however the cost to enter is extremely high. Tesla experienced this early, in there quest to enter the automotive industry. In fact, Musk and other investors used $100 million dollars in production prep alone, and no car was created (Harry & Keller). Because BMW, Mercedes, Cadillac and others have the financial ability to fund this opportunity, so they are major threats to the electric vehicle automotive …show more content…
On a less generic level other substitutions include the increasing amount of car sharing corporations such as ZipCar, Car2Go, Enterprise Car Share, and FlexCar. Carsharing allows its members to access privately owned cars, without the responsibility of owning a car (Shaeen &
Over the years, numerous changes have occurred and the auto industry has become a mature industry for consumers. A mature industry, defined as an industry …show more content…
As government regulations and incentives, and consumers continue to explore alternatives to gas operated vehicles there is going to be many attempts to enter into the industry, however the cost to enter is extremely high. Tesla experienced this early, in there quest to enter the automotive industry. In fact, Musk and other investors used $100 million dollars in production prep alone, and no car was created (Harry & Keller). Because BMW, Mercedes, Cadillac and others have the financial ability to fund this opportunity, so they are major threats to the electric vehicle automotive …show more content…
On a less generic level other substitutions include the increasing amount of car sharing corporations such as ZipCar, Car2Go, Enterprise Car Share, and FlexCar. Carsharing allows its members to access privately owned cars, without the responsibility of owning a car (Shaeen &