Industry analysis:
Relate any concepts taught in class and/or textbook to the industry. These may include but not limited to the following:
Demand analysis –
consumer tastes and behavior
-what types of cars are most popular
-demographics
-geographics
-brand loyalty
-how long are people holding onto their cars
-**how do oil prices affect demand for different types of vehicles
-**how are people leaning towards electric cars from rising oil prices
Elasticities
Many substitutes
market factors that affect demand
COVID-19
Geographics
Rising oil prices
Technological
Cost of ownership
Supply –
Refer to chapter 6
cost analysis
market factors that affect supply
manufacturing technologies
– production lines
-are the production lines versatile? (is production equipment static or dynamic?)
Calculations of HHI and Concentration ratios
Graphs/Maps included if needed to help explain
https://www.franchisehelp.com/industry-reports/automotive-industry-analysis-2020-cost-trends/
https://www.caranddriver.com/news/a33457915/average-age-vehicles-on-road-12-years/
https://www.sparksustainability.com/sparkblog/12-alternatives-to-owning-a-car
https://www.bcg.com/publications/2020/covid-automotive-industry-forecasting-scenarios
https://insurify.com/insights/most-popular-cars-in-america-2021/
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