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Industry News
Auto Industry NewsAmerican auto industry fierce comebackThe ongoing battle between America and Japan to claim the throne of the auto industry is reminiscent of David and Goliath.In the early 1900s, companies like Ford and General Motors dominated the American car industry, only to be conquered by the more conservative Japanese manufacturers Toyota and Honda in the ‘60s and ‘70s.Back in the auto industry’s infancy in the early 1900s, the “Big Three” — GM, Ford and Chrysler — were on top of the world and were primarily the only cars available in America. Back in that time, since auto technologies were not as advanced as they are today and the price of oil was fairly inexpensive, American automakers produced oversized cars with massive gas-guzzling engines. The 1973 Organization of the Petroleum Exporting Countries embargo quickly changed that.The embargo sharply increased the price of fuel, and Americans became more fuel conscious. This left a void for small Japanese and European cars to enter and the fall of the “Big Three” began.
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