Sustainability: Trends in the Automobile Industry
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Leading manufacturers in the automotive industry are facing a difficult period financially and are seeking to increase profitability while developing product lines that suit changing consumer preferences. Additionally, the threat of climate change and scarcity of oil are impacting the automotive industry and forcing manufacturers to redesign their products to have a smaller impact on the environment. By taking a closer look at automakers marketing campaigns and business practices, as well as examining the outlook of automotive experts and environmental economists, this paper explores sustainable trends in all facets of the automotive industry. Using Magna Corporation as a case study for suppliers in the automotive industry, this paper demonstrates the different ways these sustainable trends manifest, not only in the development of more efficient vehicles, but also in the processes used to make these products and their end-of-life recyclability. "Green" practices are allowing companies to create value and reduce costs, and will play a large role in the success of automotive manufacturers in years to come.