Connecticut is set to receive $1.49 million from a multi-state settlement with automakers Hyundai and Kia. Competing automakers GM lost $8.6 billion while the Ford Motor Company turned a $2 billion profit on the strength of strong profits outside of the North American market. But even if Tesla is delivering 500,000 EVs by 2018, as CEO Elon Musk has predicted, that would represent only about 2% market share in the US (some of Tesla’s production will be going overseas). Currently, Honda and Toyota have the highest fleetwide fuel economy and lowest average greenhouse gas emissions of any major automaker.
The analogy doesn’t hold up for EVs, however, because we already know that there’s massive market for personal mobility: 18 million in annual sales in the US, 20 million in China, and so on. EVs simply change the propulsion proposition. In sales, that is. According to Motoring Life, Kia’s sales in the Western European market rose nearly 40% in 2005.
Although it’s just behind Lincoln, Honda can still lay claim to having the highest satisfaction of any Japanese automaker. Today’s automotive bosses have private jets to whisk them back and forth, a source of contention for many who oppose helping the automakers. That joint venture will be key to Volkswagen, which consistently battles General Motors to be the best-selling foreign automaker in China, meeting the country’s increasingly strict emissions regulations – as well as creating a greener image.
For a country of just nine million to produce one automaker would be amazing enough. All domestic automakers have to react upon potential new entrants anytime soon. And what we know now is that the latest EV wave has been with us for decade — and the automakers are selling more gas-powered cars than ever. The vehicle uses a 172 horsepower 2.4 liter GEMA I4 gasoline engine for the Australian and European market. Iacocca, unlike today’s automaker chiefs, traveled back and forth to Washington on commercial jets to negotiate on behalf of Chrysler.
Back then, Chrysler took five months to lobby Congress for assistance, even replacing their chairman, John Riccardo, with Lee Iaccoca, the executive who helped bring the iconic Ford Mustang to market. Toyota vehicles were first introduced to the North American market in the 1960s and were, at the time, widely panned by critics as being too small and inferior in quality. Other automakers manufacture overwhelming designs of mirrors to their detriment. Based on financial models developed by J.D. Power—and depending on the size of dealer’s prime marketing area— these defections can represent millions of rupees in lost revenue. There is an answer to the problem of US automakers losing market share to Japanese automakers. But it is ultimately up to the automakers to build vehicles that meet these standards. The automaker also expects a decline in sales this year after six strong years of consecutive yearly increases.