General Motors assign.docx - 1 In My Years with General...

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1 In My Years with General Motors, Alfred P. Sloan Jr. discusses the variety of advancements and issues that the General Motors company has faced. Sloan’s argument sheds light on the installment selling and used car trade-ins of the early twentieth century—from approximately 1915 to the 1930s. He argues that with the implementation of installment selling and used car trade-ins, motor prices became more affordable, thus making the market for the motor industry increasingly accessible for a broader number of American automobile consumers. This argument is supported in The Report of the Automobile Industry Task Force from the House of Representatives—which posits that the labor in the automobile market faces crucial changes when it comes to brand new cars depending on the units sold. The primary source then dives deeper into the statistics of how installment sellings and trade-ins affect the labor force in the motor industry. In the secondary source, Sloan explores the timeline and transformation of the automobile market. He discusses crucial information about the start-up of Ford, it's Model T and the company’s overall road to success. He further mentions the effects of the automobile industry on the economy—namely with installment payments and the evolution of trade-ins among Americans purchasing these cars. Previously, a majority of Americans were unable to afford the expense of a vehicle costing around $700 to $800 in 1915— equivalent to around $10,000- $11,000 today (Sloan). Therefore installment payments, or monthly payments made for a large sum of money, and trade-ins, which involves selling used cars to dealerships and other third- party sellers—were some of the few ways to obtain a car. This resulted in increasing automobile affordability for the American market. He also mentions the increase in popularity of installment selling over the years and the upward trend of purchasing used cars—backing up the
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