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Project One: Executive Summary
Katie Stewart
Southern New Hampshire University
BUS 225: Critical Business Skills for Success
Dr. Joy
September 18, 2022
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Project One: Executive Summary
Problem
By diversifying s&s Manufacturing, Inc. it will increase revenue, increase profit, reduce the risk of losing customers, and take advantage of potential investements. Due to the ongoing global pandemic Covidfi19, the production of automobile microchips become scarce (The Automotive Chip Shortage Crisis: An August 2022 Update, n.d.). As a result, automobile company's sales have plummeted, and customers have had skyrocketted sales prices. It is very important for S&S Manufacturing, Inc. to diversify to try and make up for the losses it has endured during the
pandemic. The qualitative data that I will be targetting to analze are the correlations between the automobile and boats. The quantitative data that I will be analzing are the sales reports, the projected numbers for the engines, and any manufacturing trends that would affect the production of the engines.
Automotive Manufacturing Industry
While the trend during the Covidfi19 virus plummeted, they are now back on the rise. The total
value of the automotive industry in 2021 the total sales in the automobile industry reacheo
$82.6 billion (Ariella, 2021). Even with the decrease in automobile production the states with the top automobile sales in 2020 that account for 50% of the United States sales were number one seller California, followed by Texas, Florida, New York, and Pennsylvania. (United States of America Car Sales by State, 2021 - Knoema.com, n.d.). Even with the new types of automobile fuel types being more widely available for new cars the traditional gas only fuelled automobiles are still at the top of the sales with 51.9% desireable, followed by diesel 29.tt% and electrical vehicles tti.2%(Fuel Types of New Cars: Petrol 51.9%, Diesel 29.4%, Electric 7.2% Market Share Second Quarter 2020, 2020). With the cost of gas prices continuing to rise many are beginning to look into electrical vehicles to no have to worry if there is a gas shortage and/or the cost purchasing the gas. There are different types of body types for vehicles from SUV, Cars, and Trucks/vans. The SUV's body style has increased being the most desireable to purchase, followed by cars and lastly, vans and trucks (Ltd, 2020).
Since trends tend to change, it is important to examine the different trends to maximize the production of the most popular trends. First trend is lightweight materials reduce the weight on the chassis by nearly 50%, which in return increases the fuel effiency since the chassis are not
weighing down the vehicle as much. Next, Tesla is increasing the production and continues to
push the batteries beyond its boundaries to make the electrical cars battery last longer and more efficiently. Lastly, making 3D prints of what works the best increases rapid production (Automotive Manufacturing Trends / Resources / Fast Radius, n.d.). SUV's sales continue to increase, while cars have decreased along with trucks. According to Wardsauto the color of a vehicl