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Ford was first established here in 1911, another 243,000 have since joined, including General Motors, BMW, Honda, Nissan, Peugeot and Toyota. There are a huge number of people employed in the motor car industry either in the design and manufacture of vehicles and components or the supply, distribution and service chain.
The manufacturing sector contributes around ?8.5b added value to the economy, and accounts for 1.1% of GDP (Gross Domestic Product), 6.2% of manufacturing value-added and 9.5% of total UK exports of goods. The UK is home to the world's most successful motor sport industry.
Market structures are the characteristics of a market which determine a firm's behaviour...
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