Renewable Energy Vehicles

discuss and analyze industry trends and data of the current US Automotive industry and renewable energy industry. We will later conclude whether diversification is a good decision for our company. Our company is a automotive company currently work for the automotive manufacturing industry building engines and is looking to diversify into the renewable industry. I will be using qualitative and quantitative data in my research. I will be presenting marketing reports, journals, measuring numbers, values, and statistics. The data that will be used is Industry net worth, overall attractiveness, market trends (future, past and present), potential risks, consumer demand & growth potential, savings, and industry competitors.
Automotive Manufacturing Industry
The US automotive industry is market size is measured by revenue. This industry have a high revenue of 69.0 Billion in 2020. This industry is continuing to decline; 2019 $99.0bn, 2018 $108.0bn, and 2017 at $126.8bn.There are different hub regions that is expected to grow over the coming years as new vehicles trend higher in the U.S. The biggest share companies are located in the Great Lakes region accounting for 36.2 % of locations in 2020. The largest industries such as Ford Motor Company(Ford), General Motor Company(GM), and Fiat Chrysler Automobiles account for 15.2% of revenue. Secondly, there is a second hub in the Southeast region which accounts for 24.6 % of industry locations in 2020. Recent years, consumers have on a new path to improve design and performance, restructuring, and using new technologies such as hybrid or electric vehicles. Hybrid and electrical cars market total revenue is $30,039.0m in 2019. The last region is in the West region, accounts for 25.4% for the industry establishment.Overall, the number of new cars sold in 2020 are 158 million. Sales are determined by fuel. Gasoline Internal Combustion Engines (ICE) is the most common fuel type used. Electric and hybrid vehicles are newer, and sale total at 6.57% for trucks and 3.99% for cars sold in 2019.

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