Backward Integration is the process whereby a firm purchases or creates production facilities needed to produce its goods, such as an automobile manufacturer that buys a steel mill.
General Motors, Ford, and Chrysler are collectively known as the Big Three automakers in the United States. Once dominating over 90% of car sales in the country, their market share has significantly declined over the past three decades, particularly in the face of competition from foreign automakers like Honda, Toyota, Hyundai, and Nissan.
