Study of Automotive Industry in Chennai

The automotive fabrication is one of the key industries in the unify States and is a large segment of the everyplaceall U.S economy. The automotive industry has witnessed tremendous transnational increase during the last decade because of changes in consumer preferences, political and business policies and changing economic conditions. High growth has continued into the wise millennium with the second highest total sales on record being achieved in 2001 as indicated by the Economist Intelligence Unit (EIU). The EIU estimates that by 2006 or 2007, depending on the pace of economic recovery, auto sales will chance upon 20 million. Based on the nature of economics it is probable that the automotive industry will benefit from government initiatives much(prenominal) as the comprehensive energy policy, tax relief plans, and drop-off in tax rates in the upcoming years. fair in terms of numbers of establishments, there are over 122,692 motor vehicle parts and dealers according to the 2002 Economic number report. This number is up from the 122,633 reported in the 1997 Economic census report. The sales tallies are $814 billion according to the 2002 Economic enumerate report, which is up from $645 billion reported in the 2001 Economic number report.

The 1997 Economic Census report, the last with numbers for the breakdown amongst new and used dealers, reports that there are 25,897 new gondola and 23,340 used elevator car dealers with sales of over $553 billion for new car and over $34 billion for used car dealers. Automotive industry represents over 2% of Total industrial gross domestic product and 12% of manufacturing GDP in 2002 - total GDP impact was $19.1 billion. Rigler (2005) Today most automobiles are sold at traditional dealerships, but the Internet is now playing an more and more important role in the shopping and purchasing process. everyplace the last 10 years, the Internet has continued to play an change magnitude role in the automotive market, and that role is only liable(predicate) to grow as indicated by EIU. Almost half of the US households that... If you want to get a full essay, order it on our website: Ordercustompaper.com

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