Automotive: Automobile and Twenty-first Century Essay

Submitted By Jball1981
Words: 452
Pages: 2

The automobile industry has had their shares of up’s and down’s over the years. In fact they were part of a recent bailout that took place in 2008 when President Bush was in office. According to Sustar (2008), “THE BUSH administration's Wall Street bailout may be a prelude to a sweeping government intervention in the auto industry--even before Barack Obama takes office January 20” (para. 1). The automobile industry was struggling due to a sinking economy and they were in dire need of assistance to help keep them afloat and avoid bankruptcy. In this case the increased government assistance was a necessity. Even though some people lost their jobs several were able to keep their positions due to the government bailout. Many automobile companies are slowly recovering and beginning to see a profit. According to The Next Right Politics, Strategy, Action (2010), “GM has reported their first quarterly profit in a long time, and has begun to reimburse the federal government for the money invested into the company” (para. 3). Although these types of repayments will take time they are at least a step further in the right direction. Only time will tell the true effects of the recent government automobile bailout. As we progress further into the twenty-first century there are increasing factors that are having a huge impact on the way we travel. With the increasing gas prices people are looking for cheaper more cost efficient means of transportation. The automobile industry is working to meet the needs of their consumers in the twenty-first century, by creating vehicles that can run on electric as well as make them more eco-friendly. They have been greatly influenced by innovations in fuels as well as societal infrastructure. In addition, the changing markets and business structures as well as practices have had a…