Automotive Industry Forecast
Automotive Business Forecast
Despite a wealth of info obtainable to help consumers discover a vehicle, the car shopping process can nonetheless be daunting for some-especially women.
Within the global automotive business things are really heating up as the traditional players fight for a top spot in the race for global dominance. General Motors Corp., that has been quantity 1 in terms of global auto sales for over 75 years, is fighting to keep that title within the face of growing competition from Toyota. Last year Toyota was trailing General Motors by only 261,805 units.
While it looks unavoidable that Toyota may claim top place, improved product sales in China (GM is now #1 in China beating former top dog Volkswagen) and surging sales in India have buoyed global income for the GM despite declining sales in The United States. General Motors boss Rick Wagoner recently stated “If we can keep growing exactly where the opportunities are to grow, someone’s going to have to hustle pretty hard to catch up with us like that.” That said, based on the Wall Street Journal becoming #1 is not a top priority for Rick Wagoner and General Motors.
Ford Motor Company, once #2 globally, is in third place with sales at just over 6.2 million units.
Powerful sales in Europe have offset a seemingly endless product sales decrease of blue oval vehicles in United States. As soon as greatest sellers like the Ford Focus and Ford Explorer now sit on dealer lots as more innovative and fresh competition lure away new buyers. Ford could be wise to devise a more coherent item planning strategy instead of letting great cars waste away without any clear vision.
This is quite evident when you look at the lately discontinued Ford Taurus and Lincoln LS, vehicles that carried substantial brand equity at one point but failed as they became stale and irrelevant amongst their respective competition.
If Honda and Toyota can maintain the Accord and Camry nameplates going following much more than 2 decades, why has Ford had such a challenging time doing the same?
The large news is not just towards the top of the list. Riding high on a worldwide auto sales improve of over 11% in 2005, Hyundai Automotive Group is in high gear. The Korean automotive giant has moved into sixth spot behind DaimlerChrysler. Because 1999, Hyundai has passed established players such as Honda, Fiat, Nissan, and Renault. Hyundai does not strategy on getting too comfy in sixth spot as they’ve set their sights on becoming within the top five by the end of the decade.
They have their work eliminate for them as fifth place DaimlerChrysler is currently selling about 1 million much more vehicles annually. But I wouldn’t bet against Hyundai. In the last 10 years they’ve beaten just about everyone’s expectations. Volkswagen is holding steady in fourth place with over 5.2 million vehicles sold in 2005. 2006 and 2007 should see modest increase in auto sales with the introduction of the subsequent generation Golf (now known as the Rabbit) in North America and new models like the Volkswagen Eos.
Even though absolutely nothing is for certain within the auto business, one theme holds accurate. No automobile business has an inherent correct to the top spot. It has to be earned through fantastic cars and trucks. In this list the large winner will be the consumer.
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