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Main description: The authors point out the entire business orientated automotive value chain. With regard to the finance perspective these elements of the value chain are scrutinized chapter by chapter. Current trends in new mobility concepts, cross-industry strategic alliances as well as requirements for product launch, especially in the BRIC countries, are highlighted. The book provides the link between science and business practice in the automotive industry. It can be used as a textbook. Many practitioners might also use it as a guideline in the field of automotive management.

Two events in 2008-2009 had sweeping effects on the global economy and the US automotive sector in particular: the contraction of credit in 2008-2009 and the massive run-up in crude oil prices in late 2008. In 2008, as credit tightened, auto demand declined, and General Motors and Chrysler edged towards bankruptcy, begging the question: "What role does credit have in determining auto market outcomes?" In late 2008, crude oil prices rose sharply, leading many to ask "How will consumers respond to rising gasoline prices?" This dissertation addresses both of these questions.In chapter one, I analyze car manufacturers and their lending subsidiaries, or "captive finance companies." I note that via their captive finance companies, car manufacturers compete against traditional banks and are majority lenders in the auto lending market. Government agencies like the Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation have recently expressed interest in captives and auto lending. They have asked for instance whether captives affect the market price for risk. This leads me to my research question: "How does the use of captive finance affect competition and risk in the auto lending and new vehicle markets?" I specify an equilibrium model of the new vehicle and auto lending markets. I estimate parameters from this model using the universe of loan originations and vehicle transactions from a 20% of all US vehicle dealerships. I find that consumers are more responsive to loan principal than to changes in interest rates. Using the estimated model to conduct a counterfactual in which captives cease to exist, I also find that competition between captives and traditional banks leads banks to under-price risk.In chapter two, I ask "How do consumers' vehicle choices respond to changes in their expectations for future gasoline prices?" The 2008 spike in gasoline prices resurfaced questions asked about consumer gasoline consumption and vehicle choice which were originally posed in the 1970's. Since that time, economists have modeled consumers' dynamic responses to gasoline prices. A necessary component of such models is the specification of consumers' expectations over future values of relevant variables like gasoline prices. As data on gasoline price expectations were unavailable, researchers had been forced to make assumptions on how consumers form expectations over future gasoline prices. To address this, I introduce entirely novel data on consumers' gasoline price expectations and stated vehicle preferences. Using these data, I find that consumers' vehicle choices do respond to their expectations for future gasoline prices. Consumers vehicle preferences are persistent, however, which attenuates the effects of gasoline prices on vehicle choices.

Introduction and Overview / Paul Nieuwenhuis, Peter Wells -- Understanding Change and Difference in the Global Automotive Industry / Peter Wells -- The Market for New Cars / Peter Wells -- Understanding People and Cars / Lorraine Whitmarsh, Dimitrios Xenias -- Car Manufacturing / Paul Nieuwenhuis -- Recent Trends in Manufacturing Innovation Policy for the Automotive Sector / Patrick Galvin, Elena Goracinova, David A Wolfe -- Labour Relations and Human Resource Management in the Automotive Industry / John Holmes -- Labour Relations and HRM in the Automotive Industry / Katsuki Aoki -- The Rise of South Korean (or Korean) Automobile Industry / Seunghwan Ku -- China's Car Industry / Paul Nieuwenhuis, Xiao Lin -- Forging Ahead or Stagnating? / Maneesh Kumar -- From Factory to End-User / Ben Waller -- Impacts of Automobility / Peter Wells, Paul Nieuwenhuis -- Regulating the Car / Huw Davies, Paul Nieuwenhuis -- Global versus Local / Paul Nieuwenhuis, Peter Wells -- The Impact of Electric Automobility / Huw Davies, Liana M Cipcigan, Ceri Donovan, Daniel Newman, Paul Nieuwenhuis -- Alternatives to the Car / Peter Wells -- New Business Models and the Automotive Industry / Peter Wells -- Future Challenges for Product and Industry / Paul Nieuwenhuis, Peter Wells

The trend in the automotive industry is towards highly differentiated production of small lots. The authors discuss (optimising the supply and positioning of material for car assembly.)