Social Media and Automotive Industry
Autor: lil_sk8er56 • March 9, 2015 • Research Paper • 4,431 Words (18 Pages) • 967 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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