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5 recent auto industry trends
Forbes has named five most important recent trends that have been affecting car industry in 2015.
- Cute car-based sport utilities.
Subcompact SUVs (Jeep Renegade and Mazda MX-3, for instance) are extremely popular among young, urban population. Although experts are still not sure whether this trend is relevant in the U.S., it definitely has great global potential.
- Pickup trucks.
- In-car technology.
Consumers are increasingly interested in easier-to-use technology. Following this trend, Ford, for instance, is changing its MyFordTouch system for a completely new one.
- Fast cars.
Now gas prices are not as important as they used to be, so high-performance sports cars (Acura NSX) enjoy great demand
- Fuel economy.
As new laws put stress upon fuel economy, automobile manufacturers work on innovative powertrain technologies and green cars (Honda FCV fuel-cell, Toyota Mirai fuel cell, to name just a few).
Bearing in mind that 2014 was the best sales year since 2006, it is only natural to anticipate a strong 2015. Many experts are sure that worldwide sales will reach 17 million cars. Here are some reasons:
- consequences of 2009 crisis are left far behind;
- economic situation is favorable;
- access to credit has become easier.
Auto industry in 2015
According to a report “2015 Auto Industry Trends” published May 2015 by Strategy&, car makers are enjoying strong growth, but the future is not that certain. The U.S. market will most likely continue to grow, while global markets are difficult to predict.
Car experts and automobile manufacturers suppose that sales in North America in 2015 may well achieve 16 million vehicles, which is very optimistic as compared to 13 million in 2008. Yet there are no preconditions for strong growth in Europe. As for Russia and South America, the market could even get worse: taking into consideration economic situation, a slump in car sales is very likely. And growth in China, that has been the largest car market recently, will possibly continue to slow.
Top-selling car brands in the U.S.
One of the “Big Three” U.S. auto makers, Ford managed to sell 2,376,000 units in 2014 (market share: 14.4%). Its Ford F-Series pickup was America’s top-selling vehicle (over 753,000 cars sold). Four more models are in the list of 20 best selling cars in the United States (Fusion, Escape, Focus, and Explorer). However, in comparison with 2014 sales slightly declined as the F-Series pickup line aged.
Chevy has enjoyed a strong year, with over 2,033,000 units sold within the country and 12.3% market share. This result was to a great extent due to Chevrolet Silverado sales (529,000). Cruze and Equinox had also been quite successful (12th and 14th respectively).
This automaker also had a great year. 2,004,000 cars sold (12.1% market share) make it the third among America’s top-selling car brands. Toyota Camry, Corolla, and RAV4 were in top-20. We should definitely mention best-ever Lexus sales.
The world’s largest automaker has also been very successful in 2015. Its Camry and Corolla models, for instance, were the two most popular cars in June 2015.
With a market share of 8.3% (1,373,029 units sold), Honda had definitely deserved its place in our ranking. Honda CR-V and Honda Civic occupied the 8th and 9th lines in the list of best selling cars in the US respectively.
This automaker sold about 100,000 cars less than Honda (1,269,565 units), and thus have a 7.7% market share. Both Nissan Group and Nissan division had record sales, Nissan Rogue being the best model.
The following brands are also among 10 top-selling car brands: Hyundai (over 725,000 units), Jeep (692,000), Kia (580,000), Dodge (574,000), and Subaru (513,000). Chrysler Group had a 16% improvement as compared to 2013. It was mostly due to Jeep and Ram, while Alfa Romeo, Fiat, and Chrysler were not as successful.
Top 5 automotive manufacturers
According to International Organization of Motor Vehicle Manufacturers 2014 statistic, China has world’s largest auto industry by production volume (23,722,000). It is far ahead of the U.S. (11,660,000), Japan (9,774,000), Germany (5,907,000), and South Korea (4,524,000).
India, Mexico, Brazil, Spain, and Canada are also high in the list of world’s largest automakers, although their car brands are not as popular at a global level.