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Chervolet industry - Research Paper Example

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Chevrolet: Economic Perspective Name Institution Chevrolet: Economic Perspective Introduction Automobile industry began to take shape in early 18th century (Boschma & Wenting, 2007). However, at that time the cars were simple, even some of the early models went on without engines, therefore, people used to push them around…
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Chervolet industry
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Chervolet industry

Download file to see previous pages... Automobile industry is the practical application of human dream of convenient travelling (Fortunato, 2009). Therefore, automakers try to transform the car into a travelling solution within certain price limitations. On the other hand, inflation and rising taxation are causing significant hindrance in the process of innovation in international automobile industry. Moreover, Ford inspired its rivals to extend their production level in order to compete successfully (Boschma & Wenting, 2007). Thus, in this way, Ford acted as a pioneer of automobile innovation. With the passage of time US automobile industry became saturated, which helped companies like Toyota, Chevrolet and others initiate their operations in the country. It is important to note the real nature of the industry was quite luxurious because in old times vehicles were considered as something unique and specifically designed for the elite class. As the overall cost of the automobile companies dropped significantly in the past few decades, therefore, cars transformed into utility products in developed nations. On the other hand, the image of the car as luxurious item stood the test of time in developing countries. History of Chevrolet Chevrolet initiated its business a century ago and its cofounders were William Durant Louis Chevrolet (Catalan, 2010). Both of the entrepreneurs were previously working in the business of horse driven vehicles therefore, consented to experiment with cars powered by engines in 1912. Thus, Chevrolet modernized the entire industry through introducing petrol engines, which replaced the old-fashioned steam engines and horses as well. Along with this, Chevrolet continued its innovation by introducing new model from the decade of 1920 to that of 2000. Therefore, Chevrolet’s commitment to excellence is persistent for a century and the company is still in the process of innovation. Status of the Automobile Industry Automobile industry is the most expensive one in the category of consumer products. Therefore, the process of innovation in this particular industry is the highest as well. Due to this reason, automobile firms previously engage in hiring the best minds in all fields entailing from engineering to management sciences. Automobile industry is not hiring substantial number of employees in recent years (Fortunato, 2009) because it relies on high-end technological production units, which minimized the employee requirement in the industry. Strategic recruitment became a norm in international automobile industry. Along with these factors, semi-permanent recession forced various automobile companies to downsize in recent years. On the other hand, organizations are pressing on the need to control the waste, which will definitely increase the quality of the products produced. Furthermore, automobile companies are heavily taxed in order to keep refrain them from taking undue price advantage in developing companies. Therefore, pertaining to this fact automobile industry plagued with the tendency to downsize during the period of last decade. However, Chevrolet enabled itself to demonstrate a significant rate of growth in past years given the nature of operational circumstances of the industry. The prime reason of this development attributed from design and model enhancement continuation at Chevrolet (Catalan, 2010), which in turned kept its product appeal meaningful and ...Download file to see next pagesRead More
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