The following paper is an overview of past trends, current standings and future opportunities in the U.S. retail automotive industry.
This paper examines the way in which fierce competition in the automotive industry forces competitors to offer innovative and unique products and services if they want to survive. The writer examines the dilemma created for companies that want to take advantage of open competition, yet are apprehensive about the risks involved in such ventures during economic downturns. Suggested strategies for new competitors are also discussed in this paper.
“It would be nearly impossible to deny that the automobile has become a necessity in modern society. Few Americans can imagine their lives without the convenience of automotive transportation, and even fewer would want to try. It is our great dependence on this form of transportation that makes the automotive market so competitive. It is the changing marketplace however, that fuels this competition, causing the opportunities available to fluctuate dramatically.”