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Economic Benefits Of The Automobile Industry

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Through the automobile city, Detroit, we can easily understand that automobile industries brought millions of great contributions to human society. Nevertheless the contribution is not only for human society, but also brought the great benefits to the economy. According to Marc Davis, the professional journalist who has over 20 years experience reporting and writing on business, said that during the 20th century, in 1950s, the America’s economy was booming. The automobile industry, especially, American automobile industry dominated the world market. America was sold 10 million new cars in some years. The Ford Motor Company raised the salary to an unprecedented $5 a day in 1914. It almost doubling the average salary from other jobs at that time. Ford offered the better condition to attractived workers work better performance. They reduced the time to 24 seconds for built a car in 1927 compare to 12 hours and 8 minutes in 1913. Within 20 years, Ford produced over 15 million cars. Consequently, motor vehicles became a necessity, not luxury. After that, the one of the department received the great profit is insurance companies. The automobile industry made hundreds of millions profit for insurance companies. And, the advertisement companies accounted millions revenue also. In order to win the business campaigns, every automobile company needed to attractive customers to purchase their products which is motor vehicle; they put large numbers of budget on print, broadcast media,

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