Three Car Brands That May Not Be Around in Five Years
Today, vehicle sales are at the highest rate since 2006. However, some car companies are failing to excite and draw buyers. If the situation does not get better, there are three car brands that may be in trouble.
For years, Volvo was known as the safest car brand on the market. However, competitors have added many safety improvements and features to their vehicles. This has left Volvo without a clear identity.
Despite recent success in China, Volvo has seen a drastic decline in America. It seems that if Volvo does not manage to shake things up with a new design or special feature, the car brand may be on its way to extinction.
Over the last 10 years, Jaguar has experienced a great sales decline. In 2003, this brand sold over 61,000 vehicles in America. In 2013, only 16,700 cars were sold. The biggest problem for Jaguar has been the way that it alienates buyers. Jaguar has always been branded to appeal to a small niche of consumers. Also, the lineup has provided poor dependability.
In order to be competitive, Jaguar must broaden its appeal and increase dependability ratings. The high price must offer value to car buyers. The latest F-Type design is Jaguar’s shot to regain some headway. Even though it has a price of $69,000, it brings a unique and luxury design that is expected. Hopefully, it will be able to depart from the traditional view of the brand and appeal to young buyers. If the new launch fails, Jaguar may find itself waving goodbye to the auto industry.
In November 2013, Suzuki pulled its vehicles from the American market. Its biggest problem was increased competition in the inexpensive compact car segment. Suzuki failed to excite buyers with design or fuel efficiency. Dependability ratings were low as well.
For now, Suzuki plans to focus on its home market in Japan. However, this area is dominated by Toyota. To maintain sales, it will be necessary to add panache to its vehicles and increase dependability.
The auto industry is in the middle of big changes. Well-known brands are finding it harder to compete among buyers. As Ford and General Motors are dominating the market, Volvo, Jaguar and Suzuki may become obsolete in five years.