"Uncontrollable, exogenous variables don't"
How about the rise in popularity of vehicles from sedans and station wagons in the 70s 80s, to SUVs /utes/pickups (and the associated accessorising trend of that subset of vehicles) in the 90s and beyond?
That is a largest uncontrollable, exogenous variable that has been the foundation of ARBs growth. Its not all because of brilliant management. Tailwinds matter.
Diesel Brothers and US growth, page-15
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