Conclusion

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Jomo Kenyatta University of Agriculture and Technology *

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HPS 2112

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Economics

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Nov 24, 2024

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1 Conclusion In conclusion, the United States automotive industry is globally notable because of its influence as well as its contribution to the worldwide economy. Further, the U.S. auto industry is defined based on the fact that it involves a variety of organizations and businesses that are in charge of creating, developing, manufacturing, and marketing automobiles. Regardless of the various players in the industry, scholars note that the U.S. auto industry remains oligopolistic. An oligopoly market is associated with having few players who dominate the market and have the power to influence various market variables. In having a clear understanding of the U.S. auto industry, Porter’s Five Forces model was used. This tool of business examination is vital since it helps a business understand the specifics of a particular industry and where it stands. With this in mind, the five forces, which include competitive rivalry, buyer bargaining power, supplier bargaining power, threats of new entrants, and threat of substitution, were used to examine the U.S. auto industry. This tool revealed that the U.S. auto industry is associated with high buyer bargaining power, low supplier bargaining power, high competitive level, low threat of new entrants, and low threat of substitution. With such attributes, the U.S. auto industry is perceivably a viable option for investment and a good marketplace for consumers.

2 References American Automakers. (2021). US economic contributions . US Economic Contributions | American Automotive Policy Council. https://www.americanautomakers.org/us- economic-contributions Cano-Kollmann, M., Awate, S., Hannigan, T., & Mudambi, R. (2017). Burying the hatchet for catch-up: Open innovation among industry laggards in the automotive industry. California Management Review , 60 (2), 17- 42. https://doi.org/10.1177/0008125617742146 Dobbs, M. E. (2014). Guidelines for applying Porter's Five Forces framework: A set of industry analysis templates. Competitiveness Review , 24 (1), 32-45. https://doi.org/10.1108/cr-06- 2013-0059 Falter, R. (2011). The effects of oligopoly in the us automobile sector on pricing and development . GRIN Verlag. Hoeft, F. (2021). The case of sales in the automotive industry during the COVID‐19 pandemic. Strategic Change , 30 (2), 117-125. https://doi.org/10.1002/jsc.2395 Jussani, A. C., Heer, A., Ibusuki, U., & De Moura Côrtes, C. (2015). Electric car and Porter’s Five Forces: Marketing positioning in the automotive industry. SAE Technical Paper Series . https://doi.org/10.4271/2015-36-0486 Perera, R. (2020). Understanding Porter’s Five Forces analysis . Nerdynaut. Rugman, A. M., & Collinson, S. (2004). The regional nature of the world’s automotive sector. European Management Journal , 22 (5), 471- 482. https://doi.org/10.1016/j.emj.2004.09.006

3 Sturgeon, T. J., Memedovic, O., Biesebroeck, J. V., & Gereffi, G. (2009). Globalisation of the automotive industry: Main features and trends. International Journal of Technological Learning, Innovation and Development , 2 (1/2), 7. https://doi.org/10.1504/ijtlid.2009.021954 Tang, H. (2017). Automotive vehicle assembly processes and operations management . SAE International.

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