The Automotive Industry And 2008 – What Will The Future Hold?
Rising fuel prices, unstable financial markets and taxation changes with the apparent aim of getting us to use our cars less often (or at least pay more to use them) have been just some of the issues that have affected the automotive industry in the past 12 months. This article looks at what 2008 may hold for the automotive industry and road users in general.
The US economy and the resulting weakness of the dollar looks like it may well contribute to the price of crude oil continuing to rise as investors have been holding the commodity instead of dollars. This means that as the cost of a barrel of crude oil comes close to the $100 figure then so fuel prices have also continued to rise.
So do higher fuel costs mean we are likely to buy or use cars, vans and Lorries less in 2008? Well seemingly not based on a latest poll of motorists. Despite fuel prices increasing at alarming rates a whopping 79 percent of motorists questioned said they had not changed their petrol and fuel buying habits and had no plans to do so. In fact the motorists questioned said petrol prices would have to increase at even more alarming rates to stop them from filling up.
Environmental issues would it seem not be as important as governments throughout the world as over 1 in 3 motorists confirmed they had no plans to replace their vehicles for more environmentally friendly cars before 2010.
And so if motorists are seemingly unaffected by rising fuel costs and are prepared to continue driving despite increased road tax and the impact on the environment surely positive times are ahead for the industry in 2008?
Well before car manufacturers and dealers start doing cartwheels, caution would certainly be advised as whilst General Motors can seen promising performance in emerging markets they have seen big losses in both American and European markets.
And with the world economy in such an uncertain state as 2007 draws to a close 2008 could well see new car sales fall with used car sales increasing. Car sales and indeed sales of all types are also likely to increase via the internet in 2008 so car dealers (new and used) without an internet presence should really be looking at establishing themselves in this emerging marketplace.
And what of the actual motorist, what does 2008 have in store for us? Well how about further increases in vehicle tax, more toll roads, increased congestion charges and still a seeming lack of a viable alternative to road use through reliable, clean and safe public transport.
The good news for some motorists on one front is that whilst the government is seemingly do all they can to penalise the motorist, insurance premiums including car insurance, van insurance and motor trade insurance are pretty stable. In fact with such competition in the insurance industry the cost of insurance like combined motor trade insurance could even fall and savings could be made.
And motor traders who are looking to make savings on their motor trade insurance premiums in 2008 using a specialist insurance broker could well be the route to take to make sure they get the protection they need at a price that is right.
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Consumer Perception: The Rise Of Market Research In The Automotive Industry
Knowing your target market can be a company’s key to success in modern business. Niche marketing, particularly with the availability of much more targeted advertisement using television commercials and online ads, is growing in popularity because of its high-yielding results.
With car companies putting out commercials and ads specifically targeting groups of consumers, like women, young people, parents with small children, and even successful CEOs, does anyone wonder where
they’re getting their information? The answer: market research firms. The business of capturing information about segments of the consumer population has become a business in and of itself ? and a big one at that.
For example, let’s start looking back at 2005 when Harris Interactive ? the 15th largest marked research firm in the world ? conducted a study to find out what automotive brands people felt were not only the most technologically savvy, but also which brands were perceived to be driven by socialites. Six brands made both lists: Volvo, Jaguar, BMW, Lexus, Mitsubishi, and Isuzu.
While the results are no surprise to the first four on the list, Mitsubishi and Isuzu have never actively tried to position themselves in either market. Currently, Isuzu offers four models to U.S.
consumers ? its high-performance SUV “Ascender” ? and three pickup trucks: the i-290 Extended Cab, the i-370 Crew Cab, and the i-370 Extended Cab. One wouldn’t necessarily assume that when the majority of your line are pickups ? traditionally marketed to Middle America for their rugged hauling and towing capacities ? that you’d be perceived as a company known for progressive technology and appealing to socialites. But, in all honesty, that should be no surprise either.
Isuzu’s recent upgrades, like the i-370’s Crew Cab Comfort Package proves that Isuzu drivers appreciate luxury as much as anyone else.
It includes high-back 8-way power driver seats (and 6-way power seats for the front passenger) with lumbar support and integrated adjustable head restraints. The driver window controls are one-touch automatic and the steering wheel is leather-wrapped. In addition to the CFC-free refrigerant air conditioning and an AM/FM stereo with 6-disc in-dash CD changer, it offers a state-of-the-art 6-speaker audio system.
The i-370 also excels when it comes to desired safety features. The pickup boasts an automatic front-passenger airbag suppression system, power locks, remote keyless entry, and a content theft-deterrent alarm system. The interior is available in cloth or leather.
With ten exterior paint options to choose from like Deep Crimson Metallic and Pacific Blue, the pickup looks like it should sport a much higher price tag. It’s truly and impressive looking vehicle.
Driving the i-370 is bound to prove that this ain’t your grandfather’s pickup. All that power handles as beautifully as many luxury cars handle thanks to a hydraulically assisted rack-and-pinion power steering system , triple door seals to block road noise, and Isuzu’s own Electronic Traction Control.
So with all this, it’s no real surprise that Isuzu ranked right up there with legacies of luxury like BMW and Lexus. In an effort to design the best possible product for their buyers, they ultimately opened the door to markets they weren’t specifically aiming for. But that just goes to show you that comfort, performance, and style appeal to everyone.
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