According to the annual car wars study by the Bank of America Merrill Lynch, the biggest car makers have big plans that you need to know if you are planning to buy a vehicle soon. In North America alone, they intend to launch 193 new models between 2016 and 2019, translating to 48 new models per year. This article presents a closer look at some of their plans.
1. General Motors
Popularly known as GM, it is one of the largest car manufacturers in the world. Its headquarters is in Detroit, Michigan, United States. Between 2016 and 2019, the company plans to replace 20% of its models every year. In the process, it will double its sporty and luxury vehicles, Cadillac, while at the same time halving all mid-size and large car lineups. By the end of the period, all Silverado and Sierra pickups will have been replaced by entirely new models.
Although the company anticipates further fallout connected to its ignition switch recall, it has set aside sufficient funds for an aggressive product plan. As part of the project, the company will give priority to Cadillac and Chevrolet brands to make them global market leaders.
2. Fiat Chrysler Automobiles (FCA)
FCA is an Italian-controlled Automobile producer with branches in other countries including the United States where it is known as FCA US. The company has big plans for the next four years.
With its current showroom being older than the global average, the company plans to replace 22% of its vehicles in each of the next four years. A major point of focus will be the trucks and crossovers which are poised to make up to 35% of the entire lineup.
FCA will also focus on its Jeep model. The company believes that the high visibility of the model in the global arena coupled with the rising demand for SUVs especially in the developing world makes it quite significant in its overall plan.
From 2017, Ford intends to remake 21% of its vehicles. By 2019, 82% of all its vehicles will have been replaced. It plans to put particular emphasis on crossovers, which will make up 43% of the company’s offerings. In 2017, Ford plans to roll out the GT supercar alongside three Lincolns including the continental and the MKM coupe.
By 2018, its volume models, Focus, Escape and Fiesta will have been reinvented. Finally, in 2019, the company will release a new Lincoln Aviator, MKZ and the Explorer.
Toyota is a Japanese automobile company. It is the largest in the world with branches across the globe. The company has an aggressive product plan. By 2019, it intends to have much of its showroom models at an average annual rate of 21%.
In the US and Canada, the Scion model is set to be replaced with Toyota 86 in 2017. In the same year, the company will launch the Sienna and minivan while the high volume Camry will be redesigned for 2018. Later in 2019, a new Tundra pickup is set to be unveiled. In the long run, the company aims at becoming a world leader in personal mobility.
These are just some of the plans of these big car companies as this article could not possibly cover all of them. They just have big plans for the near future and even the long term.