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Analysis of the Future of Automobile Manufacturing in China: Assignment
Added on -2019-09-18
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ASSIGNMENT[Document subtitle]
1Analysis of the Future of Automobile Manufacturing in ChinaExecutive Summary of the ReportIn the year 1964, the automakers took the centre stage in the New York Fair. The General Motors demonstrated the concept of Firebird IV and the company stated in order to explain the meaning of the concept that, ("Strategy& - the global strategy consulting team at PwC", 2016)“awaits the day when the family would drive to the highways by turning over the controls of the care to a programmed and automatic system and further travel in absolute and comfort safety more than the speed which will be possible on the expressways.” In contrast, Ford launched a vehicle i.e. Mustang for the future. Around fifty years of creation and innovation in the rider, safety and horsepower amenities have supported the automobile industry to increase the sales by the annual rate of four percent since the year of 1964. Further, the rate is double of the population growth globally. Moreover, from the past twenty years, the sales in the Japan, Europe and North America have been moderately flat. The growth is shifting to the China from the emerging markets. The emergence of China as the largest market of automotive across the globe is also fueling the acceleration of the domestic industry of automobiles in order to compete the global players. For more than a decade, European OEMs, Japanese, and North America created a triad and generateda majority in the sector of automobiles across the world.According to the government report, it has been analysed that the year 2014 was the worst year for the domestic automobile market of China. As the foreign automakers are coming up with the affordable cars, entering into a place which is used to be a redoubt of China. Further, like affluence, the consumers of the Chinese market were supporting the foreign designers who are
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