GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Laws were passed to prevent foreign auto sales in America
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U.S. manufacturers improved quality and efficiency
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Consumers preferred U.S. brands over foreign brands of cars
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No companies were able to make profit
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Detailed explanation-1: -Globalisation has meant increasing wealth and demand for cars in newly emerging economies. Expanding markets mean continued growth for car manufacturers and related employment. Congestion, pollution, fuel and steel availability challenge future expansion, but research continues to improve safety and efficiency.
Detailed explanation-2: -Autos drive America forward by supporting a total of 10.3 million American jobs, or about 8 percent of private-sector employment.
Detailed explanation-3: -The global economic crisis struck the auto industry right from the beginning and with devastating effect. Nearly every automaker posted double-digit declines in sales; Toyota announced its first operating loss in 70 years. GM and Chrysler went through a major restructuring.
Detailed explanation-4: -Retooling an Industry The production of U.S. cars in 1940 hit nearly 4.7 million, but on Jan. 1, 1942, the government froze the sale of consumer vehicles. Instead of working on luxury designs and automotive innovations, automakers were building tanks, trucks, airplanes, Jeeps, torpedoes, and even helmets.