Final answer:
General Motors, Ford, and Chrysler have created a single online site called Covisint for purchasing automotive parts from suppliers. This collaboration among the three companies demonstrates the importance of strategic partnerships and technological advancements in the automotive industry.
Step-by-step explanation:
General Motors, Ford, and Chrysler have created a single online site called Covisint for purchasing automotive parts from suppliers. This collaboration among the three companies demonstrates the importance of strategic partnerships and technological advancements in the automotive industry.
Additionally, the presence of other well-known car manufacturers such as Toyota, Honda, Nissan, Volkswagen, Mitsubishi, and Mazda in the market indicates the intense competition in the industry and the need for companies to continuously innovate and meet consumer demands.
Overall, the formation of Covisint and the competition from various car manufacturers highlight the impact of globalization and the changing dynamics of the automotive market.