The Growth and Development of the Automobile Industry - A Deeper Insight

Share On Facebook
share on Linkedin
Print

The automobile industry has a glorious as well as interesting history since its journey. According to most historians, the revolutionary industry began its journey around the 1900th century. Since then, its development has never fallen behind. We are going to share how the industry has grown up step by step both technologically and financially. Let’s go ahead.

© Image by Niek Verlaan from Pixabay

The history of the automobile industry and its development

Prior 1900th era

The design and mechanism of automobiles were started before the 1900th century in conformity with most historians’ opinion. Karl Benz is claimed to be the inventor of the first modern automobile who introduced the three-wheeled Motorwagen in 1886. The German inventor also designed several automobiles’ appearances in the meantime. However, cars were considered a royal item in the prior era.

The 1900s to 1909s

Cars were very expensive and sophisticated to build during the beginning of the 20th century. The price and maintenance cost was out of reach for the majority of people. Thus, the industry had a very limited consumer. The situation started to change in 1904. Several enterprises became interested in this industry and started to produce cars targeting the American market. We can specially mention Ford for its particular contribution to the industry. They built and marketed model T, the first affordable car for average people that created the market demand for cars. Another car giant General Motor entered the industry in 1908.

The 1910s to 1919s

Ford was the American car market-dominant since the beginning. They went to mass-production for their model T. The revolutionary Model T was the most sold car during that time because half of the American car consumers owned it. On the other hand, Dodge added a new flash in the industry. Though the company was established in the 1900s, the Dodge brothers produced model 30, a four-cylinder car, in 1914 which created a stir in the market.

The 1920s to 1929s

This decade will be memorable because of the massive growth of the car industry. The number of car consumers started to increase rapidly. Besides, new car companies began their journey including the Chrysler Corporation in 1925. According to a report of the University of Michigan, car companies were producing 5.3 million units per year at that time.

The 1930s to 1939s

Though car sales were booming, the steadiness stopped due to the great depression. The economic downturn was constant from 1929 to 1939. The debacle was responsible for the destruction of about half of car companies around 1930. In that unrestrained situation, the United Auto Workers union (UAW) was formed which was a timely decision for the car industry.

The 1940s to 1949s

In this decade, World War II occurred and it vastly impacted the car industry. The US government restricted car factories during that time. Besides, they compel car companies to modify the existing units for military usage. Car purchase was highly restrained in that period, though it was allowed in a few cases. However, the car industry became technologically more advanced in this decade.

The 1950s to 1959s

After World War II, the car became a daily life product for Americans. The inclusion of modern technologies in cars seriously started to attract consumers and the sale increased dramatically than ever.

The 1960s to 1969s

Due to the enhancement of car usage, road accidents increased in parallel. The decade is well known for producing safer vehicles. Car companies started a competition to produce safer cars and safety gears through the decade.

The 1970s to 1979s

In 1973 the oil crisis began due to the Arab-Israel war. It was both a threat to the car industry as well as an opportunity for the car industry. The crisis forced car companies to produce fuel-efficient cars that were another revolution.

The 1980s to 1989s

The car industry was America and Europe-based for a long while. In this decade, car production went global due to its worldwide demand.

The 1990s to 1999s

The car industry faced the question of the proper allocation of natural resources like gas. Some states including California encouraged motor companies to produce environment-friendly cars. Thus, the era of hybrid cars began.

The 2000s to present

At present, the car has been a common utility for us. A car is now well-equipped with more modern technologies. We will discuss it later. Due to the rise of the internet, you can get any information about a particular car like – How long do Nissan Altimas last or check out the warranty of a car to prevent an unexpected breakdown on sites like olive.com. In the near future, we are going to experience the evolution of electric and smart cars.

Technological Advancement in the industry

The car industry has gone through noticeable technological advancement in the last few years. As a result, we may face more sophisticated technical issues which are not even restricted to the old-style jerk car problem. But, the positive sides of such technologies are superb and quite useful. The electric car will dominate all the roads in the world in the near future. That’s why the fast charging feature is a new inclusion. Voice recognition is no more an entertaining scene in movies. It is going to save drivers and prevent road accidents since a lot of people like to talk on the phone while driving. The rise of road accidents is alarming. However, technology like automatic emergency braking will prevent accidents and save lives. Smartphones and cars are now integrated to provide you with many features and services. Besides, the navigation system helps you to drive the car in the right direction and to find out your desired places. The automatic liftgate is funny as well as a useful technology when your hands are full of shopped items.

Another new inclusion in the car industry is the driverless car where you don’t have to drive the car. The car runs by itself by sensing its surrounding environment. Besides, the tech giants are trying to develop smart cars with AI technology to make a car think and analyze like a human brain. The vignette points out that we are going to experience a big coruscation in the car industry within a few years.

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20230129 12:46:37