Final answer:
New United Motor Manufacturing, Inc. (NUMMI), formed between General Motors (GM) and Toyota in 1984 was the first joint venture in the U.S. automobile industry. Option A
Step-by-step explanation:
The New United Motor Manufacturing, Inc. (NUMMI), which was formed between General Motors (GM) and Toyota in 1984, was an important strategic move in the U.S. automobile industry. This collaboration is considered the first joint venture between a domestic and a foreign auto maker in the U.S. automobile sector.
NUMMI became a symbol of globalization and competitive pressure, as the U.S. auto industry which had been historically an oligopoly of three major firms - GM, Ford, and Chrysler - began to adapt to the rise of Japanese automakers like Toyota and Honda, which offered more fuel-efficient and reliable vehicles.
The partnership aimed to combine the strengths of GM, with its large presence in the American market, and Toyota, which had honed manufacturing efficiencies and innovation, to better compete in an increasingly global industry. Option A