Executive Summary12/04/2021Description of ProblemAs you all know, the automotive industry has been hit hard by the COVID pandemic since thebeginning of last year, especially with the supply shortages. For our company to bolster oursales, I have been tasked with researching new industry opportunities for our company to branchinto. I have found a few promising industries between farming equipment, airplanes, boats, andgenerators. I believe if we expand our company into the generator industry, our goals will be metif not exceeded. I have qualitative data and quantitative data to show how we can make thispossible and the benefits of doing so.Description of the Current U.S. Automotive IndustryThe automotive industry is a high revenue industry. The value of the industry is $313 billion, theindustry grew 16.5% in 2021. Even though the current buyer situation in the market may be fewwith the pandemic still running rampant worldwide, the industry is still profitable. The targetedvalue forecast for the U.S. auto industry is $387.8 billion, which is an increase of 23.9% fromthis year. There are many suppliers in the automotive industry due to the many raw materialsused and needed for building vehicles. In the automotive manufacturing industry, the UnitedStates accounts for 18.1% of the global value. In 2020, the industry took a major loss of 19.6%from the previous year due to the pandemic.
