Posts Tagged ‘auto industry’
By: Brenda Williams
Many events in automotive history can be attributed to the creative dream and obsession of a single man to realize his dreams. The Ford and the Jaguar were examples of this. The Indianapolis 500 also began as one man s dream. Carl Fisher of Indianapolis, Indiana conceived the idea of building a racetrack for car manufacturers to test their equipment against that of other manufacturers. And he believed that the general public would be willing to pay to watch these events.
Carl had some friends who were also interested in his dream. Together they searched for and found land, which they were able to buy for $72,000. They then incorporated under the name of Indianapolis Motor Speedway Company.
Although scheduled to open on June 5, 1909, there were several construction delays so the first race was not held until August 19, 1909. Unfortunately, this event was marked by tragedy. Three competitors and two spectators were killed while several other people were injured.
Following these sad occurrences, Fisher announced that the track would be made safer. After paving the track, and installing guardrails, Fisher re opened the track on December 17, 1909. Many successful events were now held and plans were soon in the works for a new, bigger and better track, which was completed in 1911. Read the rest of this entry »
The auto industry is a major contributor towards the economy of the all the major manufacturing countries worldwide. It not only provides countless job opportunities but also has the economic impact. The global automotive industry is highly diverse and comprises of various product segments like engine parts, drive transmission and steering parts, suspension & braking parts, electrical parts and other auto components.
Autos industry covers a vast array of vehicles like luxury cars, passenger cars, specialist vehicles, motorcycles, scooters, mopeds, and off-road vehicles manufacturers & dealers of automobile components and accessories, car-care products, environment and safety equipment, garage and service equipment, molds and dyes, oils & lubricants, petrol vending machines, tires, batteries and auto electrical, upholstery and much more.
The automobile has enabled people to travel and transport goods farther and faster and has opened wider market areas for business and commerce. The auto industry has also reduced the overall cost of transportation by utilizing methods such as making several products at once, rather than one at a time, selling products nationally rather than locally and globalization of production. In the early days of its inception, this invention had to face many problems. There was no real established industry and the manufacturing processes involved were slow. With the automakers and auto buyers’ base expanding globally, auto making became the world’s largest manufacturing activity. Now this industry is making approximately 58 million new vehicles each year all across the globe. The diverse mobility offered by the automotive industry allowed remote populations to interact with one another, which increased commerce. The transportation of goods to consumers and consumers to goods has become an industry in itself. The automobile however has also brought related problems, such as air pollution, the emission of greenhouse gases that contribute to global warming, congested traffic, and highway fatalities.
Nevertheless, the automobile industry continues to be an important source of employment and transportation for millions of people worldwide.
The automobile industry directly influences the economies of the United States and other countries around the world. In a typical year, the U.S. automobile industry generates between 12 and 14 percent of manufacturers’ shipments of durable goods. The automobile production consumes large amounts of iron, steel, aluminum, and natural rubber. An interesting fact is that it also consumes more copper, glass, zinc, leather, plastic, lead, and platinum than any other U.S. industry. Automotive parts manufacturers form another large section of the USA auto industry, comprising about 5,000 firms, including Japanese, European, and Canadian companies. These firms supply the original for manufacture and the replacement parts market for maintenance and repair. By some estimates, for every job created in the automobile assembly industry, three to four jobs are created in the automotive parts industry. Numerous other industries support the automobile industry. These include the insurance, security, petroleum, and roadway design and construction industries. Still other industries, such as motels, drive-in theaters, and fast-food restaurants, owe their existence to the mobility provided by the automobile. We hope there will be a bright future for the automobile industry.
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Article source: http://keyknowhow.com/automotive/impact-of-auto-industry-on-the-economy-and-job-market.html
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