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Essay / Research Paper Abstract
This 3 page paper begins by reporting the importance of this industry to the national economy. The essay reports sales increases and increases of major brands and models and which types of automobiles are selling best. The writer comments on the major American manufacturers and how this industry needs to change. Statistical data included. Bibliography lists 15 sources.
Page Count:
3 pages (~225 words per page)
File: MM12_PGauto07.RTF
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Unformatted sample text from the term paper:
(NADA, 2007). In dollars, that is $699 billion (NADA, 2007). More than a million people work in this retail industry with an average annual income of more than $45,000 (NADA,
2007). This number accounts for nearly 14 percent of the total retail payroll in the nation (NADA, 2007). Besides the payroll, retail automotive companies generate "hundreds of millions of tax
revenue for federal, state and local governments" (NADA, 2007). They do so specifically through sales taxes, corporate taxes and payroll taxes (NADA, 2007). Automotive News analyzed 2007 mid-year performance reports
for six major automakers and found that Toyota and Honda continue to lead the pack in all areas, e.g., sales, customer satisfaction, quality, relationships with suppliers, etc. Surprisingly, Nissan slipped
in the ratings only because it is having problems with suppliers (Allen, 2007). Chrysler continues to struggle but some improvements have been noted in General Motors and Ford (Allen, 2007).
We should not forget about Hyundai and Kia who are both gaining reputations for quality. In fact, this brand "ranked 72nd in the 2007 Best Global Brands survey" (Editorial Team,
2007, p. NA). The most recent reports reveal that sales at both GM (Merx, 2007) and Ford (Collier, 2007) declined in July 2007. GM suffered a 21.8 percent drop
in sales over July 2006 (Merx, 2007) and Ford experienced a 19 percent drop (Collier, 2007). In fact, Fords overall car sales dropped by 33 percent for their Mustang, Focus
and Fusion models (Collier, 2007). At the same time, there was a 22 percent increase in sales of Fords Expedition SUV model (Collier, 2007). GM also enjoyed success in terms
of its mid-utility cross-over vehicles with a 300 percent increase in those sales (Merx, 2007). Crossovers are selling well, in general (Woodyard, 2007). Although overall automotive sales dropped by 3
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