IntroductionThe Study of economics not only brings us closer to understanding how and when to purchase a vehicle but makes us better understand why those vehicles are not being purchased. We have not only learned about vehicles but we have learned the ins and outs of how economics works and what makes up our economy. This paper will show the many things that we have learned over the last several weeks as far as forces that drive our economy, automobile sales, understanding key roles in the automotive industry, and the better understanding that we have gained into the economic structure.
Auto Industry HistoryThe automobile industry (AI) plans, designs, manufactures, markets, and delivers a dream. The AI took over 3 quarters of a century to evolve grounding its roots in Europe. Consumers depend heavily on the AI to deliver bigger and better and up to now, they have succeeded by far.
The history will never be complete when it comes to the automotive industry because they will continue to deliver by making a mark on history time after time.
The AI goes as far back as the 1680's. In the 1680's, a man by the name of Huygens designed what is known as the first combustion engine fueled by gunpowder. Unfortunately, Huygens' did not have his vehicle built. As one can see, the AI grew rapidly. The effect of macroeconomics is how AI is motivated. The effects that took place over a number of years show us the economic indicators that we are familiar with today.
Many companies have cut the size of their workforce to stay competitive but where did this all begin back when there was no competition? In 1770, Nicolas Joseph Cugnot held the title of successfully making the fist self-propelled steam vehicle. Over the years, many others...