Brief history of the automotive industry, an automotive industry overview, and a SWOTT (Strengths, Weaknesses, Opportunities, Threats, and Trends) analysis of the automotive industry.
In 1859, Jean-Joseph-Etienne Lenoir built the first commercially successful internal-combustion engine. In 1876, Nikolaus August Otto improved on the engine and the Otto engine became a model of the internal-combustion engines we use in most cars today. Two better know names, Gottlieb Daimler and Karl Benz, attached motors to automobiles and tricycles, building the first cars in 1885 and 1886. Then an American lawyer, George Baldwin, redesigned the engine so it could power a light road vehicle. He then received royalties for almost all cars made in the U.S.
Ford then forwarded the idea that anyone could own the car and mass produced the automobile. Mass production also lowered cost and the Ford Model T was pretty much the only car sold in the U.S. for almost two decades. General Motors Corporation, Chevrolet and Chrysler also joined in making automobiles with Ford.
By 1916, U.S. auto production reached one million, something not reached by any other country until England forty years later. General Motors was the first to institute different models and lines every year in order to compete with Ford. In 1924, GM had 19 percent of ...