141-694: The Franklin Automobile Company was a marketer of automobiles in the United States between 1902 and 1934 in Syracuse, New York . Herbert H. Franklin , the founder, began his career in the metal die casting business before establishing his automobile enterprise. Controlled by Herbert H. Franklin it had very few other significant shareholders. Franklin bought its vehicles from the H. H. Franklin Manufacturing Company which
282-536: A Flemish member of a Jesuit mission in China around 1672. It was a 65-centimetre-long (26 in) scale-model toy for the Kangxi Emperor that was unable to carry a driver or a passenger. It is not known with certainty if Verbiest's model was successfully built or run. Nicolas-Joseph Cugnot is widely credited with building the first full-scale, self-propelled mechanical vehicle in about 1769; he created
423-634: A deflationary spiral started in 1931. Farmers faced a worse outlook; declining crop prices and a Great Plains drought crippled their economic outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance. At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better. For example,
564-418: A silver standard , almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries . This partly explains why the experience and length of the depression differed between regions and states around
705-407: A Fiat vehicle. Toyota , Nissan , Suzuki , Mazda , and Honda began as companies producing non-automotive products before the war, switching to car production during the 1950s. Kiichiro Toyoda's decision to take Toyoda Loom Works into automobile manufacturing would create what would eventually become Toyota Motor Corporation , the largest automobile manufacturer in the world. Subaru , meanwhile,
846-484: A Franklin from New York City to San Francisco in 1906 in 15 days 2 hours 15 minutes, a new record. Franklin was the undisputed leader in air-cooled cars at a time when virtually every other manufacturer had adopted water cooling as cheaper and easier to manufacture. Before the invention of antifreeze , the air-cooled car had a huge advantage in cold weather, and Franklins were popular among people such as doctors, who needed an all-weather machine. The limitation of air-cooling
987-437: A combination of the use of feet and hands, and occasionally by voice on 21st-century cars. These controls include a steering wheel , pedals for operating the brakes and controlling the car's speed (and, in a manual transmission car, a clutch pedal), a shift lever or stick for changing gears, and a number of buttons and dials for turning on lights, ventilation, and other functions. Modern cars' controls are now standardised, such as
1128-604: A former privately run bank, bearing no relation to the U.S. government (not to be confused with the Federal Reserve ). Unable to pay out to all of its creditors, the bank failed. Among the 608 American banks that closed in November and December 1930, the Bank of United States accounted for a third of the total $ 550 million deposits lost and, with its closure, bank failures reached a critical mass. In an initial response to
1269-467: A greater reduction in credit. On 5 April 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates , coins and bullion illegal, reducing the pressure on Federal Reserve gold. British economist John Maynard Keynes argued in The General Theory of Employment, Interest and Money that lower aggregate expenditures in the economy contributed to
1410-483: A long-established wagon and coach manufacturer, started to build cars in 1897 and commenced sales of electric vehicles in 1902 and petrol vehicles in 1904. In Britain, there had been several attempts to build steam cars with varying degrees of success, with Thomas Rickett even attempting a production run in 1860. Santler from Malvern is recognised by the Veteran Car Club of Great Britain as having made
1551-467: A massive nickel-plated "dummy radiator" which served as an air intake and was called a "hoodfront". This design by J. Frank DeCausse enabled the Franklin to employ conventional styling. The same year, Franklin introduced the boat-tail to car design. In 1930 Franklin introduced a new type of engine which ultimately produced 100 horsepower (75 kW), with one of the highest power-to-weight ratios of
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#17327732165331692-600: A modern industrial city handled shortages of money and resources. Often they updated strategies their mothers used when they were growing up in poor families. Cheap foods were used, such as soups, beans and noodles. They purchased the cheapest cuts of meat—sometimes even horse meat—and recycled the Sunday roast into sandwiches and soups. They sewed and patched clothing, traded with their neighbors for outgrown items, and made do with colder homes. New furniture and appliances were postponed until better days. Many women also worked outside
1833-402: A monetary contraction first-hand were forced to join the deflationary policy since higher interest rates in countries that performed a deflationary policy led to a gold outflow in countries with lower interest rates. Under the gold standard's price–specie flow mechanism , countries that lost gold but nevertheless wanted to maintain the gold standard had to permit their money supply to decrease and
1974-670: A new model DMG car was produced and the model was named Mercedes after the Maybach engine, which generated 35 hp. Maybach quit DMG shortly thereafter and opened a business of his own. Rights to the Daimler brand name were sold to other manufacturers. In 1890, Émile Levassor and Armand Peugeot of France began producing vehicles with Daimler engines, and so laid the foundation of the automotive industry in France . In 1891, Auguste Doriot and his Peugeot colleague Louis Rigoulot completed
2115-423: A quarter of world oil production as of 2019 . Both petrol and diesel cars pollute more than electric cars. Cars and vans caused 8% of direct carbon dioxide emissions in 2021. As of 2021 , due to greenhouse gases emitted during battery production, electric cars must be driven tens of thousands of kilometres before their lifecycle carbon emissions are less than fossil fuel cars; however this varies considerably and
2256-419: A result, Ford's cars came off the line in 15-minute intervals, much faster than previous methods, increasing productivity eightfold, while using less manpower (from 12.5 manhours to 1 hour 33 minutes). It was so successful, paint became a bottleneck. Only Japan black would dry fast enough, forcing the company to drop the variety of colours available before 1913, until fast-drying Duco lacquer
2397-567: A serious issue in the 1930s. Support for increasing welfare programs during the depression included a focus on women in the family. The Conseil Supérieur de la Natalité campaigned for provisions enacted in the Code de la Famille (1939) that increased state assistance to families with children and required employers to protect the jobs of fathers, even if they were immigrants. In rural and small-town areas, women expanded their operation of vegetable gardens to include as much food production as possible. In
2538-480: A small cadre of Labour, but the vast majority of Labour leaders denounced MacDonald as a traitor for leading the new government. Britain went off the gold standard , and suffered relatively less than other major countries in the Great Depression. In the 1931 British election, the Labour Party was virtually destroyed, leaving MacDonald as prime minister for a largely Conservative coalition. In most countries of
2679-713: A standstill agreement froze Germany's foreign liabilities for six months. Germany received emergency funding from private banks in New York as well as the Bank of International Settlements and the Bank of England. The funding only slowed the process. Industrial failures began in Germany, a major bank closed in July and a two-day holiday for all German banks was declared. Business failures were more frequent in July, and spread to Romania and Hungary. The crisis continued to get worse in Germany, bringing political upheaval that finally led to
2820-467: A steam-powered road vehicle. It was unable to maintain sufficient steam pressure for long periods and was of little practical use. The development of external combustion (steam) engines is detailed as part of the history of the car but often treated separately from the development of true cars. A variety of steam-powered road vehicles were used during the first part of the 19th century, including steam cars , steam buses , phaetons , and steam rollers . In
2961-544: A steam-powered tricycle. He also constructed two steam tractors for the French Army, one of which is preserved in the French National Conservatory of Arts and Crafts . His inventions were limited by problems with water supply and maintaining steam pressure. In 1801, Richard Trevithick built and demonstrated his Puffing Devil road locomotive, believed by many to be the first demonstration of
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#17327732165333102-579: A three-wheeled car powered by electricity at the International Exposition of Electricity . Although several other German engineers (including Gottlieb Daimler , Wilhelm Maybach , and Siegfried Marcus ) were working on cars at about the same time, the year 1886 is regarded as the birth year of the modern car—a practical, marketable automobile for everyday use—when the German Carl Benz patented his Benz Patent-Motorwagen ; he
3243-429: A variety of lamps . Over the decades, additional features and controls have been added to vehicles, making them progressively more complex. These include rear-reversing cameras , air conditioning , navigation systems , and in-car entertainment . Most cars in use in the early 2020s are propelled by an internal combustion engine , fueled by the combustion of fossil fuels . Electric cars , which were invented early in
3384-673: A way to head off on unchaperoned dates, plus they had a private space to snuggle up close at the end of the night." Similarly the costs to society of car use may include; maintaining roads , land use , air pollution , noise pollution , road congestion , public health , health care, and of disposing of the vehicle at the end of its life; and can be balanced against the value of the benefits to society that car use generates. Societal benefits may include: economy benefits, such as job and wealth creation, of car production and maintenance, transportation provision, society wellbeing derived from leisure and travel opportunities, and revenue generation from
3525-658: Is a consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse, by expanding the money supply and acting as lender of last resort . If they had done this, the economic downturn would have been far less severe and much shorter. Modern mainstream economists see the reasons in Insufficient spending, the money supply reduction, and debt on margin led to falling prices and further bankruptcies ( Irving Fisher 's debt deflation). The monetarist explanation
3666-479: Is called " Fordism " and was copied by most major industries. The efficiency gains from the assembly line also coincided with the economic rise of the US. The assembly line forced workers to work at a certain pace with very repetitive motions which led to more output per worker while other countries were using less productive methods. In the automotive industry, its success was dominating, and quickly spread worldwide seeing
3807-448: Is expected to improve in future due to lower carbon electricity , and longer lasting batteries produced in larger factories. Many governments use fiscal policies, such as road tax , to discourage the purchase and use of more polluting cars; and many cities are doing the same with low-emission zones . Fuel taxes may act as an incentive for the production of more efficient, hence less polluting, car designs (e.g., hybrid vehicles ) and
3948-469: Is generally acknowledged as the inventor of the car. In 1879, Benz was granted a patent for his first engine, which had been designed in 1878. Many of his other inventions made the use of the internal combustion engine feasible for powering a vehicle. His first Motorwagen was built in 1885 in Mannheim , Germany. He was awarded the patent for its invention as of his application on 29 January 1886 (under
4089-493: Is supported by the contrast in how the crisis progressed in, e.g., Britain, Argentina and Brazil, all of which devalued their currencies early and returned to normal patterns of growth relatively rapidly and countries which stuck to the gold standard , such as France or Belgium. Frantic attempts by individual countries to shore up their economies through protectionist policies – such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries – exacerbated
4230-621: Is that cars can use lighter batteries. Most cars are designed to carry multiple occupants, often with four or five seats. Cars with five seats typically seat two passengers in the front and three in the rear. Full-size cars and large sport utility vehicles can often carry six, seven, or more occupants depending on the arrangement of the seats. On the other hand, sports cars are most often designed with only two seats. Utility vehicles like pickup trucks , combine seating with extra cargo or utility functionality. The differing needs for passenger capacity and their luggage or cargo space has resulted in
4371-826: Is the replacement of physical knobs and switches by secondary controls with touchscreen controls such as BMW 's iDrive and Ford 's MyFord Touch . Another change is that while early cars' pedals were physically linked to the brake mechanism and throttle, in the early 2020s, cars have increasingly replaced these physical linkages with electronic controls. Cars are typically equipped with interior lighting which can be toggled manually or be set to light up automatically with doors open, an entertainment system which originated from car radios , sideways windows which can be lowered or raised electrically (manually on earlier cars), and one or multiple auxiliary power outlets for supplying portable appliances such as mobile phones , portable fridges, power inverters , and electrical air pumps from
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4512-471: Is the usual formal term in British English . "Autocar", a variant likewise attested from 1895 and literally meaning " self-propelled car", is now considered archaic. " Horseless carriage " is attested from 1895. "Automobile", a classical compound derived from Ancient Greek autós ( αὐτός ) "self" and Latin mobilis "movable", entered English from French and was first adopted by
4653-539: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that
4794-593: The Automobile Club of Great Britain in 1897. It fell out of favour in Britain and is now used chiefly in North America , where the abbreviated form "auto" commonly appears as an adjective in compound formations like " auto industry " and " auto mechanic ". In 1649, Hans Hautsch of Nuremberg built a clockwork-driven carriage. The first steam-powered vehicle was designed by Ferdinand Verbiest ,
4935-639: The Great Depression , by 1940, only 17 of those were left. In Europe, much the same would happen. Morris set up its production line at Cowley in 1924, and soon outsold Ford, while beginning in 1923 to follow Ford's practice of vertical integration , buying Hotchkiss' British subsidiary (engines), Wrigley (gearboxes), and Osberton (radiators), for instance, as well as competitors, such as Wolseley : in 1925, Morris had 41 per cent of total British car production. Most British small-car assemblers, from Abbey to Xtra , had gone under. Citroën did
5076-582: The New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of
5217-679: The Portsmouth Block Mills , England, in 1802. The assembly line style of mass production and interchangeable parts had been pioneered in the US by Thomas Blanchard in 1821, at the Springfield Armory in Springfield, Massachusetts . This concept was greatly expanded by Henry Ford , beginning in 1913 with the world's first moving assembly line for cars at the Highland Park Ford Plant . As
5358-520: The Wankel engine has had more than very limited success. All in all, it is estimated that over 100,000 patents created the modern automobile and motorcycle. Large-scale, production-line manufacturing of affordable cars was started by Ransom Olds in 1901 at his Oldsmobile factory in Lansing, Michigan , and based upon stationary assembly line techniques pioneered by Marc Isambard Brunel at
5499-539: The coming to power of Hitler's Nazi regime in January 1933. The world financial crisis now began to overwhelm Britain; investors around the world started withdrawing their gold from London at the rate of £2.5 million per day. Credits of £25 million each from the Bank of France and the Federal Reserve Bank of New York and an issue of £15 million fiduciary note slowed, but did not reverse,
5640-409: The history of the car , became commercially available in the 2000s and are predicted to cost less to buy than petrol-driven cars before 2025. The transition from fossil fuel-powered cars to electric cars features prominently in most climate change mitigation scenarios , such as Project Drawdown 's 100 actionable solutions for climate change. There are costs and benefits to car use . The costs to
5781-440: The tax opportunities. The ability of humans to move flexibly from place to place has far-reaching implications for the nature of societies. Cars are a major cause of urban air pollution , with all types of cars producing dust from brakes, tyres, and road wear , although these may be limited by vehicle emission standards . While there are different ways to power cars, most rely on petrol or diesel , and they consume almost
Franklin (automobile) - Misplaced Pages Continue
5922-713: The 1.8% annual average reduction between 2010 and 2015. Given slow progress to date, the IEA estimates fuel consumption will have to decrease by 4.3% per year on average from 2019 to 2030. The increase in sales of SUVs is bad for fuel economy. Many cities in Europe have banned older fossil fuel cars and all fossil fuel vehicles will be banned in Amsterdam from 2030. Many Chinese cities limit licensing of fossil fuel cars, and many countries plan to stop selling them between 2025 and 2050. Great Depression The Great Depression
6063-533: The 1908 Ford Model T , both American cars, are widely considered the first mass-produced and mass-affordable cars, respectively. Cars were rapidly adopted in the US, where they replaced horse-drawn carriages . In Europe and other parts of the world, demand for automobiles did not increase until after World War II . In the 21st century, car usage is still increasing rapidly, especially in China, India, and other newly industrialised countries . Cars have controls for driving , parking , passenger comfort, and
6204-447: The 1937 recession that interrupted it). The common view among most economists is that Roosevelt's New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Some economists have also called attention to the positive effects from expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended. It
6345-487: The 1950s, Chevrolet shared bonnet, doors, roof, and windows with Pontiac ; by the 1990s, corporate powertrains and shared platforms (with interchangeable brakes , suspension, and other parts) were common. Even so, only major makers could afford high costs, and even companies with decades of production, such as Apperson , Cole , Dorris , Haynes , or Premier, could not manage: of some two hundred American car makers in existence in 1920, only 43 survived in 1930, and with
6486-812: The 20th and 21st centuries because there are more cars; the 1980s oil glut even fuelled the sales of low-economy vehicles in OECD countries. The BRIC countries are adding to this consumption. As of 2023 few production cars use wheel hub motors . In almost all hybrid (even mild hybrid ) and pure electric cars regenerative braking recovers and returns to a battery some energy which would otherwise be wasted by friction brakes getting hot. Although all cars must have friction brakes (front disc brakes and either disc or drum rear brakes ) for emergency stops, regenerative braking improves efficiency, particularly in city driving. Cars are equipped with controls used for driving, passenger comfort, and safety, normally operated by
6627-506: The Benz car to his line of products. Because France was more open to the early cars, initially more were built and sold in France through Roger than Benz sold in Germany. In August 1888, Bertha Benz , the wife and business partner of Carl Benz, undertook the first road trip by car, to prove the road-worthiness of her husband's invention. In 1896, Benz designed and patented the first internal-combustion flat engine , called boxermotor . During
6768-758: The British crisis. The financial crisis now caused a major political crisis in Britain in August 1931. With deficits mounting, the bankers demanded a balanced budget; the divided cabinet of Prime Minister Ramsay MacDonald's Labour government agreed; it proposed to raise taxes, cut spending, and most controversially, to cut unemployment benefits 20%. The attack on welfare was unacceptable to the Labour movement. MacDonald wanted to resign, but King George V insisted he remain and form an all-party coalition " National Government ". The Conservative and Liberals parties signed on, along with
6909-530: The Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts. During World War I many countries suspended their gold standard in varying ways. There was high inflation from WWI, and in the 1920s in the Weimar Republic , Austria , and throughout Europe. In the late 1920s there
7050-521: The Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, consumers, many of whom suffered severe losses in the stock market the previous year, cut expenditures by 10%. In addition, beginning in
7191-489: The Federal Reserve did not act to limit the decline of the money supply was the gold standard . At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act , which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit
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#17327732165337332-442: The Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today there is also significant academic support for the debt deflation theory and the expectations hypothesis that – building on the monetary explanation of Milton Friedman and Anna Schwartz – add non-monetary explanations. There
7473-642: The Great Depression. According to the U.S. Senate website, the Smoot–Hawley Tariff Act is among the most catastrophic acts in congressional history. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. Most historians and economists blame the Act for worsening the depression by seriously reducing international trade and causing retaliatory tariffs in other countries. While foreign trade
7614-481: The New Deal prolonged the Great Depression, as they argue that National Industrial Recovery Act of 1933 and National Labor Relations Act of 1935 restricted competition and established price fixing. John Maynard Keynes did not think that the New Deal under Roosevelt single-handedly ended the Great Depression: "It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on
7755-481: The Twelve did not have the ride and handling characteristics of its forebears. This was the wrong vehicle to be building after the crash of 1929 and the subsequent Great Depression . The cars sold poorly and failed to recover the company's investment. The company declared bankruptcy in 1934. Car production did not survive, but the name and assets were sold. Production of air-cooled engines for commercial and aircraft use
7896-544: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This
8037-490: The U.S. unemployment rate down below 10%. World War II had a dramatic effect on many parts of the American economy. Government-financed capital spending accounted for only 5% of the annual U.S. investment in industrial capital in 1940; by 1943, the government accounted for 67% of U.S. capital investment. The massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending
8178-614: The US's first pedestrian car casualties in 1899 in New York City. There are now standard tests for safety in new cars, such as the Euro and US NCAP tests, and insurance-industry-backed tests by the Insurance Institute for Highway Safety (IIHS). However, not all such tests consider the safety of people outside the car, such as drivers of other cars, pedestrians and cyclists. The costs of car usage, which may include
8319-635: The United Kingdom, sentiment against them led to the Locomotive Acts of 1865. In 1807, Nicéphore Niépce and his brother Claude created what was probably the world's first internal combustion engine (which they called a Pyréolophore ), but installed it in a boat on the river Saone in France. Coincidentally, in 1807, the Swiss inventor François Isaac de Rivaz designed his own " de Rivaz internal combustion engine ", and used it to develop
8460-622: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in
8601-543: The United States, remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36. According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had
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#17327732165338742-595: The United States. His patent was challenged by Henry Ford and others, and overturned in 1911. In 1893, the first running, petrol-driven American car was built and road-tested by the Duryea brothers of Springfield, Massachusetts . The first public run of the Duryea Motor Wagon took place on 21 September 1893, on Taylor Street in Metro Center Springfield. Studebaker , subsidiary of
8883-638: The Wall Street crash, after which the slide continued for three years, which was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in
9024-412: The auspices of his major company, Benz & Cie. , which was founded in 1883). Benz began promotion of the vehicle on 3 July 1886, and about 25 Benz vehicles were sold between 1888 and 1893, when his first four-wheeler was introduced along with a cheaper model. They also were powered with four-stroke engines of his own design. Emile Roger of France, already producing Benz engines under license, now added
9165-462: The availability of a large variety of body styles to meet individual consumer requirements that include, among others, the sedan/saloon , hatchback , station wagon/estate , coupe , and minivan . Traffic collisions are the largest cause of injury-related deaths worldwide. Mary Ward became one of the first documented car fatalities in 1869 in Parsonstown , Ireland, and Henry Bliss one of
9306-460: The banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did. With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch . One reason why
9447-573: The beginning of the Depression. The Depression was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on the stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until
9588-465: The behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II . Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery, though it did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate
9729-564: The brand name Daimler . It was a horse-drawn stagecoach built by another manufacturer, which they retrofitted with an engine of their design. By 1895, about 30 vehicles had been built by Daimler and Maybach, either at the Daimler works or in the Hotel Hermann, where they set up shop after disputes with their backers. Benz, Maybach, and the Daimler team seem to have been unaware of each other's early work. They never worked together; by
9870-455: The car visible to other users, so that the vehicle can be used at night; in some jurisdictions, daytime running lights ; red brake lights to indicate when the brakes are applied; amber turn signal lights to indicate the turn intentions of the driver; white-coloured reverse lights to illuminate the area behind the car (and indicate that the driver will be or is reversing); and on some vehicles, additional lights (e.g., side marker lights) to increase
10011-462: The collapse in global trade, contributing to the depression. By 1933, the economic decline pushed world trade to one third of its level compared to four years earlier. While the precise causes for the occurrence of the Great depression are disputed and can be traced to both global and national phenomena, its immediate origins are most conveniently examined in the context of the U.S. economy, from which
10152-404: The company considered simpler and more reliable than water cooling, and the company considered light weight to be critical in making a well-performing car given the limited power of the engines then available. Most Franklins were wood-framed, though the very first used an angle iron frame (1902) and, beginning in 1928, the heavier cars adopted a conventional pressed-steel frame. Lightweight aluminum
10293-443: The cost of: acquiring the vehicle, repairs and auto maintenance , fuel, depreciation , driving time, parking fees , taxes, and insurance, are weighed against the cost of the alternatives, and the value of the benefits—perceived and real—of vehicle usage. The benefits may include on-demand transportation, mobility, independence, and convenience, and emergency power . During the 1920s, cars had another benefit: "[c]ouples finally had
10434-475: The crash was a mere symptom of more general economic trends of the time, which had already been underway in the late 1920s. A contrasting set of views, which rose to prominence in the later part of the 20th century, ascribes a more prominent role to failures of monetary policy . According to those authors, while general economic trends can explain the emergence of the downturn, they fail to account for its severity and longevity; they argue that these were caused by
10575-625: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what
10716-633: The decade. The Depression had devastating economic effects on both wealthy and poor countries: all experienced drops in personal income , prices ( deflation ), tax revenues, and profits. International trade fell by more than 50%, and unemployment in some countries rose as high as 33%. Cities around the world , especially those dependent on heavy industry , were heavily affected. Construction virtually halted in many countries, and farming communities and rural areas suffered as crop prices fell by up to 60%. Faced with plummeting demand and few job alternatives, areas dependent on primary sector industries suffered
10857-408: The depression. Not all governments enforced the same measures of protectionism. Some countries raised tariffs drastically and enforced severe restrictions on foreign exchange transactions, while other countries reduced "trade and exchange restrictions only marginally": The gold standard was the primary transmission mechanism of the Great Depression. Even countries that did not face bank failures and
10998-588: The development of alternative fuels . High fuel taxes or cultural change may provide a strong incentive for consumers to purchase lighter, smaller, more fuel-efficient cars, or to not drive . The lifetime of a car built in the 2020s is expected to be about 16 years, or about 2 millionkm (1.2 millionmiles) if driven a lot. According to the International Energy Agency the average rated fuel consumption of new light-duty vehicles fell by only 0.9% between 2017 and 2019, far smaller than
11139-435: The domestic price level to decline ( deflation ). There is also consensus that protectionist policies, and primarily the passage of the Smoot–Hawley Tariff Act , helped to exacerbate, or even cause the Great Depression. Some economic studies have indicated that the rigidities of the gold standard not only spread the downturn worldwide, but also suspended gold convertibility (devaluing the currency in gold terms) that did
11280-749: The driver from a crash perspective, but more dangerous for other vehicles and road users. The weight of a car influences fuel consumption and performance, with more weight resulting in increased fuel consumption and decreased performance. The Wuling Hongguang Mini EV , a typical city car , weighs about 700 kilograms (1,500 lb). Heavier cars include SUVs and extended-length SUVs like the Suburban . Cars have also become wider. Some places tax heavier cars more: as well as improving pedestrian safety this can encourage manufacturers to use materials such as recycled aluminium instead of steel. It has been suggested that one benefit of subsidising charging infrastructure
11421-402: The drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of
11562-427: The economies of Europe in 1937–1939. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. The American mobilization for World War II at the end of 1941 moved approximately ten million people out of the civilian labor force and into the war. This finally eliminated the last effects from the Great Depression and brought
11703-412: The end of that year there were more than 16 million electric cars on the world's roads. Despite rapid growth, less than two per cent of cars on the world's roads were fully electric and plug-in hybrid cars by the end of 2021. Cars for racing or speed records have sometimes employed jet or rocket engines, but these are impractical for common use. Oil consumption has increased rapidly in
11844-576: The end of the month. A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday , the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop. Thousands of investors were ruined, and billions of dollars had been lost; many stocks could not be sold at any price. The market recovered 12% on Wednesday but by then significant damage had been done. Though
11985-500: The explanations of the Keynesians and monetarists. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating
12126-503: The few women in the labor force, layoffs were less common in the white-collar jobs and they were typically found in light manufacturing work. However, there was a widespread demand to limit families to one paid job, so that wives might lose employment if their husband was employed. Across Britain, there was a tendency for married women to join the labor force, competing for part-time jobs especially. In France, very slow population growth, especially in comparison to Germany continued to be
12267-569: The first petrol-driven car in the country in 1894, followed by Frederick William Lanchester in 1895, but these were both one-offs. The first production vehicles in Great Britain came from the Daimler Company , a company founded by Harry J. Lawson in 1896, after purchasing the right to use the name of the engines. Lawson's company made its first car in 1897, and they bore the name Daimler. In 1892, German engineer Rudolf Diesel
12408-447: The first steam-powered road vehicle in 1769, while the Swiss inventor François Isaac de Rivaz designed and constructed the first internal combustion-powered automobile in 1808. The modern car—a practical, marketable automobile for everyday use—was invented in 1886, when the German inventor Carl Benz patented his Benz Patent-Motorwagen . Commercial cars became widely available during the 20th century. The 1901 Oldsmobile Curved Dash and
12549-505: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August
12690-425: The founding of Ford France and Ford Britain in 1911, Ford Denmark 1923, Ford Germany 1925; in 1921, Citroën was the first native European manufacturer to adopt the production method. Soon, companies had to have assembly lines, or risk going broke; by 1930, 250 companies which did not, had disappeared. Development of automotive technology was rapid, due in part to the hundreds of small manufacturers competing to gain
12831-606: The government tried to reshape private household consumption under the Four-Year Plan of 1936 to achieve German economic self-sufficiency. The Nazi women's organizations, other propaganda agencies and the authorities all attempted to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing
12972-519: The home, or took boarders, did laundry for trade or cash, and did sewing for neighbors in exchange for something they could offer. Extended families used mutual aid—extra food, spare rooms, repair-work, cash loans—to help cousins and in-laws. In Japan, official government policy was deflationary and the opposite of Keynesian spending. Consequently, the government launched a campaign across the country to induce households to reduce their consumption, focusing attention on spending by housewives. In Germany,
13113-528: The idea of different makes of cars produced by one company, called the General Motors Companion Make Program , so that buyers could "move up" as their fortunes improved. Reflecting the rapid pace of change, makes shared parts with one another so larger production volume resulted in lower costs for each price range. For example, in the 1930s, LaSalles , sold by Cadillac , used cheaper mechanical parts made by Oldsmobile ; in
13254-403: The individual include acquiring the vehicle, interest payments (if the car is financed), repairs and maintenance , fuel, depreciation , driving time, parking fees, taxes, and insurance . The costs to society include maintaining roads, land-use , road congestion , air pollution , noise pollution , public health , and disposing of the vehicle at the end of its life . Traffic collisions are
13395-527: The initial crisis spread to the rest of the world. In the aftermath of World War I , the Roaring Twenties brought considerable wealth to the United States and Western Europe. Initially, the year 1929 dawned with good economic prospects: despite a minor crash on 25 March 1929, the market seemed to gradually improve through September. Stock prices began to slump in September, and were volatile at
13536-563: The lack of an adequate response to the crises of liquidity that followed the initial economic shock of 1929 and the subsequent bank failures accompanied by a general collapse of the financial markets. After the Wall Street Crash of 1929 , when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with
13677-476: The largest cause of injury-related deaths worldwide. Personal benefits include on-demand transportation, mobility, independence, and convenience. Societal benefits include economic benefits, such as job and wealth creation from the automotive industry , transportation provision, societal well-being from leisure and travel opportunities, and the generation of revenue from taxation. People's ability to move flexibly from place to place has far-reaching implications for
13818-670: The last company to manufacture air-cooled engines under the Franklin name, declared bankruptcy in 1975. Its designs were sold to the Polish government. Engines based on these designs remain in production. In his book for the Society of Automotive Engineers Inc, The Franklin Automobile Company , Sinclair Powell gave the following reasons for the end of Franklin: Debt taken on to greatly expand production in 1929 produced extra cars saleable only for very large discounts. This discounting seriously weakened both Franklin and its dealerships even before
13959-637: The last years of the 19th century, Benz was the largest car company in the world with 572 units produced in 1899 and, because of its size, Benz & Cie., became a joint-stock company . The first motor car in central Europe and one of the first factory-made cars in the world, was produced by Czech company Nesselsdorfer Wagenbau (later renamed to Tatra ) in 1897, the Präsident automobil. Daimler and Maybach founded Daimler Motoren Gesellschaft (DMG) in Cannstatt in 1890, and sold their first car in 1892 under
14100-580: The location for the accelerator and brake, but this was not always the case. Controls are evolving in response to new technologies, for example, the electric car and the integration of mobile communications. Some of the original controls are no longer required. For example, all cars once had controls for the choke valve, clutch, ignition timing , and a crank instead of an electric starter . However, new controls have also been added to vehicles, making them more complex. These include air conditioning , navigation systems , and in-car entertainment . Another trend
14241-422: The longest trip by a petrol-driven vehicle when their self-designed and built Daimler powered Peugeot Type 3 completed 2,100 kilometres (1,300 mi) from Valentigney to Paris and Brest and back again. They were attached to the first Paris–Brest–Paris bicycle race, but finished six days after the winning cyclist, Charles Terront . The first design for an American car with a petrol internal combustion engine
14382-521: The market entered a period of recovery from 14 November until 17 April 1930, the general situation had been a prolonged slump. From 17 April 1930 until 8 July 1932, the market continued to lose 89% of its value. Despite the crash, the worst of the crisis did not reverberate around the world until after 1929. The crisis hit panic levels again in December 1930, with a bank run on the Bank of United States ,
14523-545: The market. In Japan, car production was very limited before World War II. Only a handful of companies were producing vehicles in limited numbers, and these were small, three-wheeled for commercial uses, like Daihatsu , or were the result of partnering with European companies, like Isuzu building the Wolseley A-9 in 1922. Mitsubishi was also partnered with Fiat and built the Mitsubishi Model A based on
14664-414: The mid-1930s, a severe drought ravaged the agricultural heartland of the U.S. Interest rates dropped to low levels by mid-1930, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment remained low. By May 1930, automobile sales declined to below the levels of 1928. Prices, in general, began to decline, although wages held steady in 1930. Then
14805-423: The monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action. This view
14946-502: The most to make recovery possible. Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves , in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets. Japan and the Scandinavian countries followed in 1931. Other countries, such as Italy and
15087-427: The most. The outbreak of World War II in 1939 ended the Depression, as it stimulated factory production, providing jobs for women as militaries absorbed large numbers of young, unemployed men. The precise causes for the Great Depression are disputed. One set of historians, for example, focuses on non-monetary economic causes. Among these, some regard the Wall Street crash itself as the main cause; others consider that
15228-426: The nature of societies . The English word car is believed to originate from Latin carrus / carrum "wheeled vehicle" or (via Old North French ) Middle English carre "two-wheeled cart", both of which in turn derive from Gaulish karros " chariot ". It originally referred to any wheeled horse-drawn vehicle , such as a cart , carriage , or wagon . "Motor car", attested from 1895,
15369-582: The need to balance the national budget and was unwilling to implement expensive welfare spending . In 1930, Hoover signed the Smoot–Hawley Tariff Act , which taxed imports with the intention of encouraging buyers to purchase American products, which worsened the Depression because foreign governments retaliated with tariffs on American exports. In 1932, Hoover established the Reconstruction Finance Corporation , which offered loans to businesses and support to local governments. In
15510-404: The on-board electrical system. More costly upper-class and luxury cars are equipped with features earlier such as massage seats and collision avoidance systems . Dedicated automotive fuses and circuit breakers prevent damage from electrical overload . Cars are typically fitted with multiple types of lights. These include headlights , which are used to illuminate the way ahead and make
15651-565: The onset of the Great Depression . Similar discounting to move unsold stock was repeated in 1930 and again in 1931 and Franklin's position became hopeless. It struggled on until adjudged bankrupt in April 1934. Automobile A car , or an automobile , is a motor vehicle with wheels . Most definitions of cars state that they run primarily on roads , seat one to eight people, have four wheels , and mainly transport people over cargo . There are around one billion cars in use worldwide. The French inventor Nicolas-Joseph Cugnot built
15792-483: The physical volume of exports fall, but also the prices fell by about 1 ⁄ 3 as written. Hardest hit were farm commodities such as wheat, cotton, tobacco, and lumber. Governments around the world took various steps into spending less money on foreign goods such as: "imposing tariffs, import quotas, and exchange controls". These restrictions triggered much tension among countries that had large amounts of bilateral trade, causing major export-import reductions during
15933-480: The policies prolonged the Depression instead of shortening it. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%; in the U.S., the Depression resulted in a 30% contraction in GDP. Recovery varied greatly around the world. Some economies, such as the U.S., Germany and Japan started to recover by the mid-1930s; others, like France, did not return to pre-shock growth rates until later in
16074-406: The political situation in Europe. In their book, A Monetary History of the United States , Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System . Chairman of the Federal Reserve (2006–2014) Ben Bernanke agreed that monetary factors played important roles both in
16215-472: The same in France, coming to cars in 1919; between them and other cheap cars in reply such as Renault 's 10CV and Peugeot 's 5CV , they produced 550,000 cars in 1925, and Mors , Hurtu , and others could not compete. Germany's first mass-manufactured car, the Opel 4PS Laubfrosch (Tree Frog), came off the line at Rüsselsheim in 1924, soon making Opel the top car builder in Germany, with 37.5 per cent of
16356-434: The scale necessary to make the grand experiments which would prove my case—except in war conditions." According to Christina Romer , the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of
16497-405: The time of the merger of the two companies, Daimler and Maybach were no longer part of DMG. Daimler died in 1900 and later that year, Maybach designed an engine named Daimler-Mercedes that was placed in a specially ordered model built to specifications set by Emil Jellinek . This was a production of a small number of vehicles for Jellinek to race and market in his country. Two years later, in 1902,
16638-433: The time. In 1932, in response to competition amongst luxury car makers, Franklin brought out a twelve-cylinder engine. Air cooled with 398 cubic inches (6.5 L), it developed 150 hp (110 kW). It was designed to be installed in a lightweight chassis, but the car became a 6,000 pounds (2,700 kg) behemoth when Franklin engineers were overruled by management sent in from banks to recover bad loans. Although attractive,
16779-530: The visibility of the car. Interior lights on the ceiling of the car are usually fitted for the driver and passengers. Some vehicles also have a boot light and, more rarely, an engine compartment light. During the late 20th and early 21st century, cars increased in weight due to batteries, modern steel safety cages, anti-lock brakes, airbags, and "more-powerful—if more efficient—engines" and, as of 2019 , typically weigh between 1 and 3 tonnes (1.1 and 3.3 short tons; 0.98 and 2.95 long tons). Heavier cars are safer for
16920-482: The world's attention. Key developments included electric ignition and the electric self-starter (both by Charles Kettering , for the Cadillac Motor Company in 1910–1911), independent suspension , and four-wheel brakes. Since the 1920s, nearly all cars have been mass-produced to meet market needs, so marketing plans often have heavily influenced car design. It was Alfred P. Sloan who established
17061-645: The world's first vehicle to be powered by such an engine. The Niépces' Pyréolophore was fuelled by a mixture of Lycopodium powder (dried spores of the Lycopodium plant), finely crushed coal dust and resin that were mixed with oil, whereas de Rivaz used a mixture of hydrogen and oxygen . Neither design was successful, as was the case with others, such as Samuel Brown , Samuel Morey , and Etienne Lenoir , who each built vehicles (usually adapted carriages or carts) powered by internal combustion engines. In November 1881, French inventor Gustave Trouvé demonstrated
17202-476: The world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and
17343-673: The world. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in political turmoil. With the rise in violence of National Socialist ('Nazi') and Communist movements, as well as investor nervousness at harsh government financial policies, investors withdrew their short-term money from Germany as confidence spiraled downward. The Reichsbank lost 150 million marks in
17484-778: The worldwide economic decline and eventual recovery. Bernanke also saw a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system, and pointed out that the Depression should be examined in an international perspective. Women's primary role was as housewives; without a steady flow of family income, their work became much harder in dealing with food and clothing and medical care. Birthrates fell everywhere, as children were postponed until families could financially support them. The average birthrate for 14 major countries fell 12% from 19.3 births per thousand population in 1930, to 17.0 in 1935. In Canada, half of Roman Catholic women defied Church teachings and used contraception to postpone births. Among
17625-658: Was a scramble to deflate prices to get the gold standard's conversation rates back on track to pre-WWI levels, by causing deflation and high unemployment through monetary policy. In 1933 FDR signed Executive Order 6102 and in 1934 signed the Gold Reserve Act . The two classic competing economic theories of the Great Depression are the Keynesian (demand-driven) and the Monetarist explanation. There are also various heterodox theories that downplay or reject
17766-505: Was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered
17907-478: Was a small part of overall economic activity in the U.S. and was concentrated in a few businesses like farming, it was a much larger factor in many other countries. The average ad valorem (value based) rate of duties on dutiable imports for 1921–1925 was 25.9% but under the new tariff it jumped to 50% during 1931–1935. In dollar terms, American exports declined over the next four years from about $ 5.2 billion in 1929 to $ 1.7 billion in 1933; so, not only did
18048-424: Was continued by Aircooled Motors of Syracuse. This company was bought after World War II by Preston Tucker . The flat-six engines were fitted with water-cooling jackets and used in the short lived Tucker automobile . The company was sold again after Tucker was disbanded. Franklin engines powered numerous light planes (owing to their light weight) as well as most early American-built helicopters. Aircooled Motors,
18189-407: Was developed in 1926. This is the source of Ford's apocryphal remark, "any color as long as it's black". In 1914, an assembly line worker could buy a Model T with four months' pay. Ford's complex safety procedures—especially assigning each worker to a specific location instead of allowing them to roam about—dramatically reduced the rate of injury. The combination of high wages and high efficiency
18330-474: Was endorsed in 2002 by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again. The Federal Reserve allowed some large public bank failures – particularly that of
18471-776: Was fitted. The car weighed 1100 lb (499 kg). List price was US$ 1300. By contrast, the Ford Model F in 1905 was priced at $ 2,000, the FAL was US$ 1750, a Cole 30 or Colt Runabout was US$ 1500, the Ford Model S $ 700, the high-volume Oldsmobile Runabout US$ 650, Western 's Gale Model A US$ 500, the Black could be as low as $ 375, and the Success hit the amazingly low US$ 250. Franklin cars were technological leaders, first with six cylinders (by 1905) and automatic spark advance, in 1907. Demonstrating reliability, L. L. Whitman drove
18612-1429: Was formed from a conglomerate of six companies who banded together as Fuji Heavy Industries , as a result of having been broken up under keiretsu legislation. The transport sector is a major contributor to air pollution , noise pollution and climate change . Most cars in use in the early 2020s run on petrol burnt in an internal combustion engine (ICE). The International Organization of Motor Vehicle Manufacturers says that, in countries that mandate low sulphur motor spirit, petrol-fuelled cars built to late 2010s standards (such as Euro-6) emit very little local air pollution. Some cities ban older petrol-driven cars and some countries plan to ban sales in future. However, some environmental groups say this phase-out of fossil fuel vehicles must be brought forwards to limit climate change. Production of petrol-fuelled cars peaked in 2017. Other hydrocarbon fossil fuels also burnt by deflagration (rather than detonation ) in ICE cars include diesel , autogas , and CNG . Removal of fossil fuel subsidies , concerns about oil dependence , tightening environmental laws and restrictions on greenhouse gas emissions are propelling work on alternative power systems for cars. This includes hybrid vehicles , plug-in electric vehicles and hydrogen vehicles . Out of all cars sold in 2021, nine per cent were electric, and by
18753-426: Was given by American economists Milton Friedman and Anna J. Schwartz . They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction ". This caused a price drop of 33% ( deflation ). By not lowering interest rates, by not increasing
18894-414: Was granted a patent for a "New Rational Combustion Engine". In 1897, he built the first diesel engine . Steam-, electric-, and petrol-driven vehicles competed for a few decades, with petrol internal combustion engines achieving dominance in the 1910s. Although various pistonless rotary engine designs have attempted to compete with the conventional piston and crankshaft design, only Mazda 's version of
19035-500: Was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by
19176-446: Was intended. It exacerbated the Great Depression by preventing economic recovery after domestic production recovered, hampering the volume of trade; still there is disagreement as to the precise extent of the Act's influence. In the popular view, the Smoot–Hawley Tariff was one of the leading causes of the depression. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened
19317-427: Was made in 1877 by George Selden of Rochester, New York . Selden applied for a patent for a car in 1879, but the patent application expired because the vehicle was never built. After a delay of 16 years and a series of attachments to his application, on 5 November 1895, Selden was granted a US patent ( U.S. patent 549,160 ) for a two-stroke car engine, which hindered, more than encouraged , development of cars in
19458-457: Was only moderately profitable and frequently missed dividends on common stock. The two major characteristics of their automobiles were their air-cooled engines and in the early years their lightness and responsiveness when compared with other luxury cars. The Franklin companies suffered financial collapse in April 1934. Aside from his consequent retirement CEO Herbert Franklin's lifestyle was unaffected. All Franklin cars were air-cooled , which
19599-470: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that
19740-485: Was the size of the cylinder bore and the available area for the valves, which limited the power output of the earlier Franklins. By 1921, a change in cooling—moving the fan from sucking hot air to blowing cool air—led the way to the gradual increase in power. Franklins were often rather odd-looking cars, although some were distinctly handsome with Renault -style hoods. Starting in 1925, at the demand of dealers, Franklins were redesigned to look like conventional cars sporting
19881-429: Was used in quantity, to the extent that Franklin was reckoned to be the largest user of aluminum in the world in the early years of the company. Offerings for 1904 included a touring car model with a detachable rear tonneau and which seated four passengers. The transverse-mounted, vertical straight-four engine, producing 10 hp (7.5 kW), was mounted at the front of the car. A two-speed planetary transmission
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