The government regulations have played a significant role in the transformations that have taken place in the automotive industry. Government regulations include any laws that are established by the government to regulate the operations of various industries that will otherwise negatively impact the society if unregulated. Most of the regulations in the automotive industry have been ratified in the Western countries including U.S and UK (Aghion et al. 2016). Government regulations and series of standardization in the U.S led to the increase in the cost of production and made it difficult for local companies to effectively compete with…….
The post Factors that have contributed to change in the auto industry
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