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Article: Automobile Industry in the 1970s
- Article from:
- American Decades
CopyrightCOPYRIGHT 2001 The Gale Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUTOMOBILE INDUSTRY IN THE 1970s
Economic Turmoil and Change
The 1970s proved to be a decade of tumultuous change for the automobile industry in the United States. Caught first in the economic
turmoil of high interest rates, high inflation, and price control and then in the energy crises of 1973-1974 and 1979, the automobile industry bore the brunt of the changes brought upon the U.S. economy. In addition to the domestic economic situation, U.S. automakers also faced a changed international market, with more competition from foreign manufacturers.
A Poor Start
The decade started badly with a paralyzing strike by the United Auto Workers (UAW) during 1970. As a result production at the ...