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Global automotive OEM market: US automotive sales hit 14.5 million units during 2012
Annual Strategy Dossier - 2013-2014 - World's 7 Leading Automotive OEMs - Key Strategies, Plans, SWOT, Trends & Strategic Outlook - a new market research report on 2014-04-17 04:39:04
The global automotive industry landscape has undergone a major transformation since the global economic crisis of 2008 with the complete transformation of Detroit 3 that has led to resurgence of GM & a combined Fiat-Chrysler entity, stronger focus on compact & more fuel efficient vehicles, surge of interest in as well as expanding capabilities of pure electric vehicles (EVs) & plug-in hybrids and the strengthening of focus on & investments in emerging markets by almost all key global OEMs.The industry, however, continues to face a number of significant challenges amid the backdrop of a difficult, complex & uncertain global macroeconomic environment led by the European debt crisis and the continuing U.S. economic difficulties coupled with the sporadic global currency exchange rate fluctuations, especially, the surge in U.S. Dollar against all major global currencies that is impacting profitability and the simultaneous, significant weakening of Japanese Yen that has bolstered Japanese exports. The impact of the exchange rate fluctuations has been differential across markets. For instance, the Australian Government has announced a $177 million incentive package in early August 2013 for the automotive industry aimed at offsetting the continued strength of Australian Dollar against the USD that has impacted profitability across OEMs and has led to Ford´s scheduled wind-up of its manufacturing operations in Australia from 2016. The softening of global commodity prices of-late and the recent drop in crude prices, however, have so far been favourable for the industry.The automotive sales in the U.S. reached the 14.5 million units level in 2012, registering a 13.5% growth; the industry´s best-ever performance since the pre-crisis average level of 17 million vehicles driven by the economic recovery, strong replacement demand fuelled by new product introductions and prevailing, favourable interest rates. The going so far has been steady for the industry in H1 2013 with CUVs & Pickups dominating sales thereby boosting the overall prospects, market shares & profitability for the Detroit 3. Further, projections for the year 2013 indicate towards a healthy 5% sales growth at 15.5 million units level and 2014 estimates indicate towards a continued, steady recovery with the industry likely to touch the 16 million units mark. The European industry, on the other hand, witnessed its worst ever year in 2012 with demand contracting by 8.2% to the 12.05 million vehicles level, lowest since 1993 and the projections for 2013 indicate towards a further 3% contraction in sales. Emerging markets, on the other hand continue with their growth momentum albeit slower economic growth rates.Most leading OEMs are in the process of aligning & fine-tuning their strategies with emerging as well as latent industry trends & developments. All key global industry OEMs have outlined an array of strategies & plans aimed at navigating through the rough terrain with streamlining of overall cost base through consolidation of industrial footprint, especially, in Western Europe with the industry poised to bottom out, introduction of new product platforms & variants driven by cutting-edge technologies & innovations with new introductions likely to spearhead demand growth across traditional markets through 2018 and significant growth in investments by OEMs towards emerging markets aimed at deepening local roots across these markets with a significant share of global demand likely to originate from emerging markets over medium term.

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