Explain how the two industries are similar and different based on your Porter$$s Five Forces analyses.

Porter$$s Five Forces New Industry Automotive Manufacturing Industry

Rivalry Among Existing Competitors Medium because in the market for electric vehicles, companies are competing fiercely to attract potential buyers. High because a large number of global and local competitors, ongoing technological advancements, and aggressive marketing tactics, leading to a relentless battle for market dominance.

Threats of New Entrants to the Market Low because the expensive nature of technology and the risks posed by potential new competitors. Medium because the automobile industry perceives the likelihood of new competitors entering as moderate, due to the significant investment and customer loyalty as obstacles.

Bargaining Power of Suppliers Low because there are a high number of suppliers in the industry. Medium because a balance between the large number of suppliers and their crucial role, allowing for moderate negotiation power concerning pricing and quality standards.

Threat of Substitute Products Medium because there are numerous alternative options for hybrid and electric vehicles, including conventional forms of transportation. Medium because the potential for alternative transportation methods and emerging technologies to challenge traditional automobiles is seen as a moderate threat

Bargaining Power of Buyers Medium because the fierce competition and available alternatives give buyers a wide range of options and the ability to switch suppliers. High because they have a range of alternative options to choose from, easy access to information, and their preferences heavily influence pricing and quality decisions.