Automotive Industry Forecast

Automotive Industry Forecast

Despite an abundance of information available to help consumers find a vehicle, the car shopping procedure can nonetheless be intimidating for some-especially ladies.

Within the global automotive business things are truly heating up as the conventional players fight for a top spot in the race for global dominance. General Motors Corp., which has been number one in relation to global auto sales for over 75 years, is fighting to maintain that title within the face of growing competition from Toyota. Final year Toyota was trailing General Motors by only 261,805 units.

While it looks expected that Toyota will declare best place, increased product sales in China (GM is now #1 in China defeating previous top dog Volkswagen) and surging product sales in India have buoyed world-wide income in the GM despite declining sales in The United States. General Motors boss Rick Wagoner recently stated "If we can keep growing where the opportunities are to grow, someone's going to have to hustle pretty hard to catch up with us like this." That said, according to the Wall Street Journal being #1 has stopped being a top priority for Rick Wagoner and General Motors.

Ford Motor Company, once #2 globally, is within third place with sales just over 6.2 million units. Powerful sales in Europe have offset a seemingly endless product sales decline of blue oval vehicles in The 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 would be wise to devise a more coherent item planning strategy rather than letting fantastic cars waste away without any clear vision.

This is quite evident when you look at the recently discontinued Ford Taurus and Lincoln LS, vehicles that carried substantial brand equity at 1 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 after more than 2 decades, why has Ford had such a challenging time performing the same?

The big news is not just towards the top of the list. Riding at the top of a worldwide auto sales increase 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 strategy on getting too comfy in sixth spot as they've set their sights on being within the top 5 by the finish of the decade.

They need their work cut down for them as fifth place DaimlerChrysler is presently promoting about 1 million much more vehicles annually. But I wouldn't bet against Hyundai. Within the final 10 years they've beaten just about everyone's expectations. Volkswagen is holding steady in fourth location with over 5.2 million vehicles sold in 2005. 2006 and 2007 should see modest improve in auto sales with the introduction of the next generation Golf (now known as the Rabbit) in North America and new models such as the Volkswagen Eos.

Although nothing is for certain in the auto business, 1 theme holds accurate. No automobile company has an inherent right to the top spot. It has to be earned via great cars and trucks. In this list the big winner will be the consumer.

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