Essay: Analysis of Automotive Industry
People from different societal classes tend to drive different car models. The automotive industry is thus compelled to keep producing different car models to meet all the needs of the society. The demand for fuel efficient cars is also another aspect of sociocultural factors and many environmentalists are concerned about the impacts of automobile emissions on the environment.
The automotive industry is manned by stiff competition between the major actors which include GM, Daimler Chrysler, Toyota, Ford and Honda both locally in the U. S market and in the global market. This competition has forced the manufacturers to continuously improve the quality of their products so as to remain relevant in the global market.