BUSINESS CHALLENGES IN AMERICAN CAR INDUSTRY

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BUSINESS CHALLENGES IN AMERICAN CAR INDUSTRY

BUSINESS CHALLENGES IN AMERICAN CAR INDUSTRY

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American car industry is one of the economical pillars of the nation. Since 170ss, the industry has contributed to the economic growth of the country.  The American car industry is not only one of the largest industries in the world but it has remained a lucrative investment destination in North America.  American auto industry has a long history which goes back to more than 2 centuries.  The beginning of the industry can be traced to 1792, when Oliver Evans was granted the patent right to his invention of the steam land carriage.  This was later followed by the Quadricycle which was invented in 1892 by Henry Ford.   However, the revolution of the industry came after Henry Ford invented the Model-T and commercialized the use of automobiles in America.  The contribution of Henry Ford has been the epicenter for growth in the industry, taking it from a small industry to a commercial production of automobiles.