Automotive Industry Forecast

Automotive Industry Forecast

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Despite an abundance of info available to help customers discover a vehicle, the automobile shopping procedure can nonetheless be intimidating for some-especially women.

Within the global vehicle industry things are truly heating up as the traditional players fight for a top spot in the race for global dominance. General Motors Corp., which includes been number one in terms of global auto sales for more than 75 years, is fighting to keep that title within the face of growing competition from Toyota. Final year Toyota was trailing General Motors by only 261,805 units.

However it looks expected that Toyota may declare top place, increased product sales in China (GM is now #1 in China beating former top dog Volkswagen) and surging product sales in India have buoyed worldwide income for the GM despite declining sales in The Usa. General Motors boss Rick Wagoner recently stated “If we can keep growing exactly where the opportunities are to grow, someone’s going to need to hustle pretty hard to catch up with us like that.” That said, based on the Wall Street Journal becoming #1 is no longer a top priority for Rick Wagoner and General Motors.

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Ford Motor Business, once #2 globally, is within third place with sales at just over 6.2 million units. Powerful sales in Europe have offset an apparently endless sales decline of blue oval vehicles in The Usa. As soon as best 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 much more coherent product planning strategy instead of letting great cars waste away without any clear vision.

This is quite evident whenever you look at the recently 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 keep the Accord and Camry nameplates going following much more than 2 decades, why has Ford had such a challenging time performing the exact same?

The big news is not just at the top of the list. Riding high on a global 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 like Honda, Fiat, Nissan, and Renault. Hyundai does not plan on obtaining too comfy in sixth spot as they’ve set their sights on being within the top five by the finish of the decade.

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They’ve got their work cut out for them as fifth location DaimlerChrysler is presently promoting about 1 million more vehicles annually. But I wouldn’t bet against Hyundai. In the final 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 ought to see modest improve in auto sales with the introduction of the next generation Golf (now recognized as the Rabbit) in North America and new models like the Volkswagen Eos.

Even though absolutely nothing is for certain within the auto business, 1 theme holds accurate. No car company has an inherent correct to the top spot. It has to be earned via fantastic cars and trucks. In this list the large winner will be the consumer.

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