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Analysis of the UK Car Industry.
Member rating: No Rating | Words: | Submitted: Mon Dec 22 2003
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ANALYSIS OF THE UK CAR INDUSTRY TABLE OF CONTENTS 1. Introduction.......................................................................2 2a. How would you describe the existing market structure of the UK car industry...............................................................................3 2b. What are the typical characteristics associated with this kind of market structure?............................................................................4 2c. What does economic theory predict about pricing strategies in this kind of market?.....................................................................5 3. Explain why UK car drivers are paying about 50% more than the rest of Europe.............................................................................6 4a. Explain how and why the strategies discussed in 1, above might change if the UK were to withdraw from the European Car Block Exemption............................................................................7 4b. How would UK consumers benefit from such a move?..................................................................................8 5. Bibliography.....................................................................9 1. The existing market structure in the UK Car industry is imperfectly competitive, and classified as oligopolistic. Oligopolistic markets are defined as having three main characteristics (Business Economics 2nd Ed). 1. Supply in the industry must be concentrated by few firms. In 1999 six supplier groups (which included Ford, and Vauxhall) accounted for 79 per cent of...
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