Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2023 International Conference on Management Research and Economic Development
Series Vol. 22 , 13 September 2023
Open
Access | Article
Price, Consumer Expectations, Policy Impact on the Automobile Industry in the United States — Empirical Evidence from 2005 to 2020
* Author to whom correspondence should be addressed.
Abstract
Automobiles are good partners for the American people to live and work with, and the automobile industry has made remarkable contributions to the economic development of the United States. In this paper, the development level of the automobile industry is measured by the annual sales volume. With the help of economic demand determination theory, through the combination of qualitative analysis and quantitative analysis, it is found that prices, policies, and consumer expectations will impact automobile sales volume and then affect the development level of the automobile industry. This paper can provide a reference for the decision-making of government, automobile enterprises, and consumers.
Keywords
automobile industry, market demand, prices, policies, consumer expectations
References
1. Mo Kadry (2021) How Will Shared Mobility Trends Change the Future of Automobile Ownership? https://www.cubictelecom.com/blog/future-of-automobiles-ownership-mobility-as-a-service/
2. Dan Brown (2022) Ten Indicators That the Auto Industry Will Roar Back in 2023. https://www.miamiautomobiles.com/business/10-indicators-that-the-auto-industry-is-poised-for-hyper-growth-in-23/
3. N. Gregory Mankiw (2015) Principles of Economics, seventh edition. Peking University, Beijing. Original edition published by Cengage Learning (2012)
4. Mathilde Carlier (2022) Automotive industry worldwide - statistics & facts https://www.statista.com/topics/1487/automotive-industry/#topicOverview
5. Sky Ariella (2022) 36 Important U.S. Automotive Industry Statistics [2023]: Facts, Trends, And Projections https://www.zippia.com/advice/automotive-industry-statistics/
6. J.B. Maverick (2022) What Raw Materials Do Auto Manufacturers Use? https://www.investopedia.com/
7. William Brazila (2019) The role of fuel cost information in new automobile sales Transportation Research Part D: Transport and Environment, 74: 93-103
8. Delvin Davis (2011) Under the Hood: Auto Loan Interest Rate Hikes Inflate Consumer Costs and Loan Losses www.responsiblelending.org
9. Clément Carbonnier (2007) Who pays sales taxes? Evidence from French VAT reforms, 1987–1999, Journal of Public Economics 91:1219–1229
10. Anna Alberini, Markus Bareit (2019) The effect of registration taxes on new automobile sales and emissions: Evidence from Switzerland, Resource and Energy Economics 56:96–112
11. Charles Stuart (1984) Welfare Costs per Dollar of Additional Tax Revenue in the United States. The American Economic Review, Vol. 74, No. 3, pp. 352-362
12. PA AUTO SALES (2021) 14 Factors that Determine Automobile Sales https://www.paautosales.com/14-factors-that-determine-automobile-sales/
13. Rabiul Islam, Ahmad Bashawir Abdul Ghani, Bobby Kusuma, Eric Teh Yew Hong (2016) An Analysis of Factors that Affecting the Number of Automobile Sales in Malaysia, International Review of Management and Marketing, 6(4) pp.872-882.
14. Lacey Plache (2013) Rising Unemployment Rate Not a Bad Sign for New Automobile Sales, https://www.edmunds.com/industry-center/analysis/rising-unemployment-rate-not-a-bad-sign-for-new-automobile-sales.html
15. Law Insider, Travel Services definition, https://www.lawinsider.com/dictionary/travel-services
16. Statista, Highway mileage within the United States from 1990 to 2020, https://www.statista.com/statistics/183397/united-states-highway-mileage-since-1990/
17. AMERICAN AUTOMOBILE ASSOCIATION (2016) Proprietary research into the use of premium octane gasoline when not required by the manufacturer, https://newsroom.aaa.com/asset/u-s-drivers-waste-2-1-billion-annually-on-premium-gasoline-full-report/https://www.bea.gov/
18. https://www.bea.gov/
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2023 International Conference on Management Research and Economic Development
- ISBN (Print)
- 978-1-915371-87-4
- ISBN (Online)
- 978-1-915371-88-1
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/22/20230294
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited