Audit of Automobile industry Essay

Category: Organization,
Published: 20.02.2020 | Words: 361 | Views: 607
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AUTO INDUSTRY IN UK Uk has been a huge manufacturer of automobiles in last a decade. Producing more that eight million vehicles and motors and exporting more than 80% of these, UK automobile sector stands as being a driving force of its overall economy. The automobile market generates a yearly yield of about 55 Billion dollars Pounds and largest benefit from exports.

Nevertheless, the nation that has car players like, Alexander Davis, Aston Martin, Bentley, THE CAR, Ford, Honda, Jaguar, and so forth, is still considered to be under a vast influence of dwindling source chain as well as dependence on overseas market. I want to scrutinize the specific situation of UK automobile market by doing an internal and exterior environmental taxation. INTERNAL TAXATION Internal environmental audit is conducted to understand the position of market with respect to its own environment. SWOT is one of the equipment used to execute internal review which is utilized for studying the strengths, weaknesses, opportunities and threats with the subject.

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STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Bottom-line is that inspite of challenges encountered by auto industry in last decade, it is resurging from its problem and looking toward producing even more number of vehicles this year. EXTERNAL ENVIRONMENTAL RESEARCH The automobile sector in UK has been tactically working to creating fresh opportunities and enhancing technology. It has widely slogged to generate UK more appealing for overseas investors. Through automotive industry’s external evaluation, we shall examine influence of external factors on the sector.

The two key models talked about here are PESTLE Analysis and Porter’s Five Forces’ Style. PESTEL RESEARCH PORTER’S FIVE FORCES’ UNIT The external influences have a determining rold in throwing future of automobile industry in UK. Analysing the internal as well as the external environment of UK’s car market helps discovering how it is performing and what is the scope to get improvement. British offers an assortment of car designs in a remarkably competitive market.

Nonetheless, it can be still facing a lot of problems in recovering from the past demise. Market professionals predict the industry shall still be able to serve the new more demanding market.