According to Global Insight, a Market Research Firm, the Detroit Big 3 will have a very hard time getting back on track after the projected 2007 sales slump.
This year, North American vehicle sales will drop to 16.2 million units. By the following year, sales will rise gradually, but it will take a while before they reach 17 million, last seen in 2001. According to the firm, deliveries will reach that number by 2010 and climb to 17.7 million by 2012.
Chrysler, Ford and GM are not forecasted to benefit from the upswing sales beginning in 2008. Global Insight foresees that the Big 3 will drop seven points of market share between now and 2012 and that imports will rise from 3.7 million 2007 to 4.4 million vehicles by 2012.
The worse may yet be to come. Beyond 2012, the Chinese car import threat looms. Detroit had better get its "stuff" together soon. It needs to appeal to young drivers now; it is critical to their survival that they not lose Generation-Y as they did the Baby Boomers.
This year, North American vehicle sales will drop to 16.2 million units. By the following year, sales will rise gradually, but it will take a while before they reach 17 million, last seen in 2001. According to the firm, deliveries will reach that number by 2010 and climb to 17.7 million by 2012.
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Chrysler, Ford and GM are not forecasted to benefit from the upswing sales beginning in 2008. Global Insight foresees that the Big 3 will drop seven points of market share between now and 2012 and that imports will rise from 3.7 million 2007 to 4.4 million vehicles by 2012.
The worse may yet be to come. Beyond 2012, the Chinese car import threat looms. Detroit had better get its "stuff" together soon. It needs to appeal to young drivers now; it is critical to their survival that they not lose Generation-Y as they did the Baby Boomers.