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Wrong-Footed in Recession
Thursday, March 25 2010 :: Keywords: automotive oems :: Permalink
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Download Hubris and Humility on Show at Geneva.pdf
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Trend Tracker's associate Dr. Michael Wynn-Williams of Greenwich University Business School contributes some incisive thoughts on the state of the global car industry, reflecting at leisure on the variously effective and irrelevant ways that different automotive OEMs at the Geneva Motor Show were responding to the current dearth of demand. His overall impression of the show was that “this is an industry that is in almost complete denial.” See if you agree.
I had no idea that the lead time for a new vehicle from concept to production is around 6 years. Taking this into consideration its not surprising that the auto market are unable to cope with the current change in demand. I don't think this is the last time we will see a sudden shift in the consumers demand so the auto industry really needs to be better prepared the next time or many of them wont be around for long.
Dr. Wynn-Williams is correct, they just do not get it. The automotive market is in a major recession but opportunities exist that management are completely overlooking. With consumers moving to used cars in this downturn, I see very little advertising by the OEM's to move the consumer up to the new car market with an good economy compact offering. It currently is not about a Green or Luxury vehicle, it is all in the economy.