How Did Technology Affect The Auto Industry

The American auto industry was developed by many different people from different countries. France started this development in 1769 by inventing of a three-wheeler that was powered by steam. The first internal combustion engine was created in Belgian in the 1800s and a gasoline powered vehicle was built in Germany in 1885. It was also in Germany, in 1896, that a man named Henry Ford built the first car. He went further by creating the assembly line which allowed him to mass produce the cars therefore making them more affordable for persons. This transformed the industry. Ever since the 1960’s, political, demographic, economic, technology, global and sociocultural challenges have always been affecting this industry.
Political - Laws and regulations
economy. The University of Michigan and the Center for Automotive Research stated that this industry is the main user of computer chips, textiles, aluminium, copper, steel, iron, lead, plastics, vinyl, and rubber and for every autoworker there are seven other jobs created in other industries. This includes anything from the aluminium’s to lead to vinyl. It is said that in 2001, the total sales of automobiles were 3.7% of the nation's gross domestic product. This percentage works out to be $375 billion dollars in
A study was conducted by J.D. Power and Associates in 2002 and involved more 27,000 new vehicle buyers. The study showed that 60% of the buyers referred to the internet before making their purchases and out of that 60%, 88% went to the auto websites before going and taking a test drive. Due to concerns for the economy and global warming, the automobile industry had to develop alternate fuel vehicles. They did not want to do this at first because of the high cost and risks involved however because of a new legislation, the auto industry had no choice but to come up with the technology to make the fuel-efficient cars. They finalized that this would be the best way to meet the demands of this new