Sample Essay on Factors Affecting Automobile Industry in U.K
There are many factors affecting automobile industry in U.K. Just like other countries that manufacture automobiles, U.K launched the scrap page incentive scheme that was aimed at supporting the automobile industry that was facing a crisis between 2008 and 2010. The crisis was caused by various factors some of which are still affecting the industry today.
One of the factors that have been affecting the automobile industry in the United Kingdom was a move by the government to draft laws that would regulate the industry in the 1960s. Some of these regulations are initiated by consumers who are concerned about the environment.
The desire for vehicles that ensure safer environment by the consumers has greatly been affecting the automobile industry that is forced to invest more in production of safer vehicles.
The economic trends have also been affecting the automobile industry in the U.K. Studies reveal that in every economy, the automobile industry is a major contributor to the economy. Automobile industry is a leading user of iron, steel, aluminum, computer chips, plastics, rubber, vinyl and textiles.
The automobile industry in the United Kingdom has contributed heavily in the creation of jobs directly in the industry or through other industries. This implies that an economic trend that affects the other industries that are related to the automobile industry affects it too.
Socio-cultural factors also affect the automobile industry in the U.K. The kind of a car or vehicle that one drives says a lot about them in the society. This affects that kind of vehicles that people purchase. Automobile companies in the U.K can manufacture a car and if the car fails to draw positive comments in the society, it will not generate the desired sales.
As such, the automobile industry in the U.K must invest heavily in research before coming up with any car. This is because automobile manufacturers must come up with vehicles that appeal to the target markets.
Technology also has great impact on the automobile industry in U.K. People are using the internet to learn about developments in the automobile industry in other parts of the world. This implies that when people realize that there are countries that have come up with vehicles with more innovative technology; they will not purchase vehicles from the automobile industry in U.K.
Therefore, the automobile industry in U.K has to engage in extensive research and manufacturers have to invest heavily in research to keep up with the stiff global competition.
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