October 2, 2022

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Automotive and Powersports Markets – Race Winning Brands

Automotive and Powersports Markets – Race Winning Brands

Automotive and Powersports Markets – Race Winning Brands Automobile and powersports manufacturers have been competing against each other with their innovative designs, high performance, and cutting edge technology. The competition is stiff at this time because of the economy, gas prices being so high, political unrest in oil producing countries, etc. Automakers must be strategy-minded leaders in order to survive the demanding marketplace. This article will discuss the automotive and powersport markets as well as the brands that are leading these markets (race winning brands).

What is Automotive or Powersports Manufacturing?

Automotive means vehicles that move on a road or a racetrack. Vehicles that move on the road include cars, trucks, vans, and even motorbikes. However, vehicles that move on a racetrack include race cars (like F1) and bikes (like MotoGP). These types of vehicles are manufactured by companies like General Motors Corporation (GM), Volkswagen of America (VW), Ford Motor Company (F), Honda Motor Company Ltd. (HMC) etc. These companies produce their own in-house vehicle designs as well as license its designs to other companies such as Toyota Motor Corporation for producing Toyotas and Honda Motor Company for producing Hondas. The company does not make the vehicle design but simply licenses it to another company to produce.

The company will make the parts for the vehicles and afterwards, it will be assembled in a manufacturing plant by workers. Automobile manufacturers expect their vehicles to be more technologically advanced than their competitors. The automobile is one of the most expensive purchases that a consumer makes beside his or her home. The consumer expects his or her vehicle to be reliable and cost efficient. However, due to favorable government regulations (EPA), economies of scale, and strategic marketing, automobile companies will decrease their costs so they can sell their vehicles at a lower price point compared to their competitors.

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Automotive Manufacturing Companies

In 2007, General Motors Corporation (GM) led the worldwide automotive market accounting for over $250 billion in sales volume globally. GM produces vehicles such as the Chevrolet Silverado, Silverado HD, and the GMC Sierra in the US, and Holden Commodore in Australia (GM is a brand of GM globally, Australia is a part of it). The company also produces SUVs such as the Chevy Equinox and the GMC Terrain. In 2008, General Motors Corporation (GM) was ranked as one of the top global automobile manufacturers due to its Sixty6 Concept which is a “fixed roof vehicle” with rear doors that pop up from within a cockpit of glass windows to keep the roof open.

The company is also known for producing high quality vehicles at a low price point. According to the company and most industry analysts, GM is the leader because it has a global presence. GM believes that by having a global presence, it can reduce its costs and keep its profit margins. Also, the company’s ability to produce high quality vehicles at low price points help GM beat other competitors such as Toyota Motor Corporation.

Toyota Motor Corporation (TM) is another automotive manufacturing company that leads the worldwide automobile market accounting for nearly $220 billion in sales volume globally. The company produces vehicles such as Corolla and RAV4 in Japan, Lexus RX 400h in Japan and U.S.A, and Highlander in U.S.A. Toyota Motor Corporation (TM) also produces vehicles such as Camry, Sienna and Tundra in the U.S. The company is known for producing high quality vehicles at a low price point like GM but its recent recalls have hurt its market share and sales volume in the U.S market. Other competitors are Hyundai Motor Company, Ford Motor Company, Honda Motor Company Ltd., Nissan Motor Company, Subaru Division of Fuji Heavy Industries Ltd., Suzuki Motor Corporation, Daimler AG (Mercedes Benz), Volkswagen of America (VW), Audi AG (Audi), BMW AG (BMW) etc…

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General Motors Corporation is known for producing high-quality vehicles at a low price point but its recent recalls have hurt its market share and sales volume. Other competitors are Toyota Motor Corporation, Hyundai Motor Company, Ford Motor Company, Honda Motor Company Ltd., Nissan Motor Company, Subaru Division of Fuji Heavy Industries Ltd., Suzuki Motor Corporation, Daimler AG (Mercedes Benz), Volkswagen of America (VW), Audi AG (Audi), BMW AG (BMW) etc… Automobile manufacturers will continue to produce innovative vehicles with cutting edge technology and extremely fast engines as long as the customer’s demand for such cars increases. The automotive business is expected to grow at a faster rate than the overall economy by 2013.

Conclusion

Automobile and Powersports Manufacturers have been competing against each other with their innovative designs, high performance, and cutting edge technology. The competition is stiff at this time because of the economy, gas prices being so high, political unrest in oil producing countries, etc. Automakers must be strategy-minded leaders in order to survive the demanding marketplace.