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Social Media and Automotive Industry

Autor:   •  March 9, 2015  •  Research Paper  •  4,431 Words (18 Pages)  •  456 Views

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Table of Contents

Introduction and Background        

Key Players        

Facebook and the Automotive Industry        

General Practices of Facebook        

Practices of Facebook in the Automotive Industry        

Successful Facebook Campaigns        

Unsuccessful Facebook Campaigns        

Interesting Facebook Facts        

Twitter and the Automotive Industry        

General Practices for Twitter        

Practices of Twitter in the Automotive Industry        

Successful Twitter Campaigns        

Unsuccessful Twitter Campaigns        

Interesting Twitter Fact        

Other Social Media Platforms        

Blog        

Revving up the Automotive Industry: How to use Social Media to Fuel your Automotive Company        

Bibliography        


Introduction and Background

From 2008-2010, the Automotive industry was hit hard economically as a result of the recession at the time. Factors that attributed to this were the rising prices of gasoline, as well as the financial crisis that had occurred in 2008. Many manufacturers were rescued by their government as a result of the aforementioned factors. The gas prices caused the profitability of “The Big Three” in America (General Motors, Chrysler, and Ford) to plummet because they had relied on the sales of SUVs and pickup trucks, which were not as fuel efficient as their smaller counterparts. The financial downturn prevented people with bad or poor credit from getting a bank loan in order to buy a car. Sales took a hit, and caused the profits to plummet further because they couldn’t sell many vehicles.

Presently, the industry is back on the rise but is still recovering from the downturn. Sales have consistently increased the past few years, but is still lower than before the recession. The global automotive manufacturing industry is currently worth $1,184.6 billion, and is forecasted to grow to $1,653.7 billion by 2015. The industry itself includes not only the manufacturing, but also the sale and also retail activities such as gas and car parts sales. If we include the other parts of the industry, the value for 2015 jumps to about $5,100 billion.

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