Tesla and Rolls Royce. Growth. Economics Research Paper
Economic class assignment ... the two companies we choose to compare are Tesla and rolls royce .. the car aspects of each company..
This assignment requires you to study an industry and present the information to the class, as well as turn in a paper with that information. Students will work in groups of 3 to 4 members and each group will choose an industry. The industry chosen must be different for each group..
Information used in the written assignments must be appropriately cited in APA format. Lack of citations and/or a bibliography can be considered a form of plagiarism and will be penalized accordingly.
Students are to research and address the following issues:
• For the past ten years, describe the industry’s relative economic performance in terms of:
o Growth
o Cost and price Inflation
o Use of natural resources
o Employment
o Other characteristics and parameters you consider important as relevant to the industry’s future economic prospects, e.g.,:
Technology impacts
Foreign competition
Government relations
Changes in supply (changes in costs input costs, taxes, etc.) and demand (changes in customer incomes, preferences, etc.) and impact
• For at least 2 major players in the industry, describe the companies including
o Size (assets, number of employees, number of countries in which it operates, etc.)
Tesla and Rolls Royce
Name
Institution
Due Date
Tesla and Rolls Royce
The automobile industry has undergone numerous changes in the past century. The world has welcomed carriages to self-driving cars and these developments do not seem to be slowing down any time soon. In the past, the U.S. dominated the automotive industry but today, new entrants like China and India continue to push the limits. While the dreams of Henry Ford, Ferdinand Porsche, and Kiichiro Toyoda may have come true, none of them foresaw the changes the automotive industry has undergone. But what does the future hold for the automotive industry? Will it continue to rise or should the world prepare for an unprecedented downfall? Well, nothing has emerged to suggest or indicate that there might be a downfall and as 2013 McKinsey report shows that the future is quite optimistic. This paper’s focus, however, is not on the future but on the past 10 years. Here is thus an account of the changes that have taken place in the automotive industry in the last 10 years.
Growth
The automotive industry has shown great stride when one considers its growth for the past 10 years. The world’s economic growth has played a great role in this because today, more people can afford to buy a car. Acquiring a new car is a different story as Carns (2016) notes that “the cost of an average new car may be a stretch for typical households.” However, more cars are being sold today than in the past and as shown in the image below, the number of cars sold has been rising with each passing decade. Aside from the number of cars sold, it is crucial to also consider the growth of the automotive industry in countries like India and China. In a 2018 article of the Business Standard, Modi (2018) notes that “the Indian automobile industry has successfully doubled the domestic market for passenger vehicle (cars, utility vehicles and vans) and two wheelers over the past decade riding over the various challenges and years of low or no growth.” China today is known as the world’s biggest car market and while its large population does play a role in this, one cannot fail to acknowledge the growth the country has experienced in the last three decades. This growth has greatly impacted the entire world and cause major shifts in the automotive industry. The expectation is that the automotive industry will continue to grow and the world has not seen the last of this super-charged growth.
/statistics/200002/international-car-sales-since-1990/
Cost and Price Inflation
One of the challenges being experienced by the automotive industry is the cost of new cars. This, however, has nothing to do with the cost of the cars. The cost of living has continued to grow but people’s wages have not reciprocated in the same stride. O’Brien (2017) alludes to a report from Bankrate.com which indicates that “all but one of the 25 largest U.S. metro areas, households with median incomes cannot afford the average price of a new car.” Today, people are forced to spend more on cars and while car sales have continued to soar, the automotive industry could be headed for tougher times.
Use of Natural resources
In the last decade, the automotive...
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