GMAT
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.
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.
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