GMAT
Despite periodically resurging, the United States automotive industry has never fully recovered from the numerous setbacks that began in the 1970s, when both oil prices soared as a result of a decreased global supply and foreign automakers flooded the market.
Soaring prices of oil and foreign automakers flooding the market in the 1970s, resulting from a decreased global supply, caused the automotive industry in the United States to suffer numerous setbacks that, despite a periodic resurgence, it has never fully recovered.
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