Hot New Models Fuel The Dramatic Comeback of the Auto Marketplace
An astoundingly active US auto marketplace has put the automotive industry on-track to reach nearly 16 million annual unit sales – a level not seen since before the domino-effect collapse of the financial, housing and car markets.
Pent-up demand of buyers sidelined for several years by uneasiness with the general economy and their personal financial well-being, is certainly part of the current strength in car sales, as is the one million car void created by the controversial cash-for-clunkers program.
Beyond these factors the auto industry across the board has put pedal to the metal on the product side offering a smorgasbord of provocative modern designs, gee whiz technology and a strong price-to-value ratio proposition.
From heavy six figure supercars like Ferrari, Lamborghini, Bentley, Rolls-Royce and McLaren, as well as premium luxury performance nameplates like BMW, Mercedes, Audi and Cadillac, down to fun and funky economy cars like the Mazda3, Kia Soul, Ford Fiesta and Honda Fit… consumers are like kids in a candy store with a raging sweet-tooth.
And when the auto industry is humming along at this level, the economic echo propels more than 5 percent of the entire US economy!
This George Polgar of GT Marketing for KYW News Radio.