Eco-112-Gs Final Project
Microeconomics
ECO-112-GS
FINAL PROJECT
For the past 24 years of my life I have been an employee of a company called Chrysler Financial which operated as the captive financial arm for an automobile manufacturing company known as Chrysler Group LLC (Chrysler Motors) until April of 2009. Chrysler Motors is one of the big three American automobile companies that manufactures several types of vehicles which are sold not only in the United States but also worldwide. The brands of vehicles Chrysler Motors manufactures are as follows: Chrysler, Dodge, Jeep and the recently added fourth brand for their truck line named the Ram. Aside from manufacturing vehicles, MOPAR, which is short for Motors and Parts, is the automobile parts, accessories and service arm of the Chrysler Group which produces and distributes an array of automotive parts for any Chrysler-built or Chrysler brand vehicle.
These vehicles are purchased and used daily by so many people and business alike for many different reasons. The demand for this product stems from the need of transporting people, goods and services from one place to another. Some use these vehicles as a necessity and convenience as they need to travel from place to place such as work, school, and home. Companies use vehicles to provide transportation services to their employees. For instance, Chrysler Financial, as an affiliate of Chrysler Motors, purchased a fleet of vehicles to provide their sales representatives with a company car to use when acquiring business. Another example is the state and local government purchasing a fleet of cars from Chrysler Motors for their police force.
In 2009, the economy was declining rapidly. The mortgage and housing market was collapsing, the oil and gasoline prices were climbing, and unemployment was at an all-time high which contributed to Chrysler Motor’s decrease in demand and supply of its products. As a result, the manufacturing company in the end had to file for
ECO-112-GS
FINAL PROJECT
For the past 24 years of my life I have been an employee of a company called Chrysler Financial which operated as the captive financial arm for an automobile manufacturing company known as Chrysler Group LLC (Chrysler Motors) until April of 2009. Chrysler Motors is one of the big three American automobile companies that manufactures several types of vehicles which are sold not only in the United States but also worldwide. The brands of vehicles Chrysler Motors manufactures are as follows: Chrysler, Dodge, Jeep and the recently added fourth brand for their truck line named the Ram. Aside from manufacturing vehicles, MOPAR, which is short for Motors and Parts, is the automobile parts, accessories and service arm of the Chrysler Group which produces and distributes an array of automotive parts for any Chrysler-built or Chrysler brand vehicle.
These vehicles are purchased and used daily by so many people and business alike for many different reasons. The demand for this product stems from the need of transporting people, goods and services from one place to another. Some use these vehicles as a necessity and convenience as they need to travel from place to place such as work, school, and home. Companies use vehicles to provide transportation services to their employees. For instance, Chrysler Financial, as an affiliate of Chrysler Motors, purchased a fleet of vehicles to provide their sales representatives with a company car to use when acquiring business. Another example is the state and local government purchasing a fleet of cars from Chrysler Motors for their police force.
In 2009, the economy was declining rapidly. The mortgage and housing market was collapsing, the oil and gasoline prices were climbing, and unemployment was at an all-time high which contributed to Chrysler Motor’s decrease in demand and supply of its products. As a result, the manufacturing company in the end had to file for