The modern business world is so competitive, that it is no longer an advantage to be one, or eight, steps ahead of the competition – it is a survival requirement. According to a report from financial news publication 24/7 Wall St., ten important brands may disappear from the US scene in the coming 18 months, three of which are automotive-related.
They say that Mitsubishi, Volvo and the Road&Track publication could bite the dust in the States due to “the brutally competitive nature of certain industries and the importance of not falling behind in efficiency, innovation or financing.”
Yes, Mitsubishi is known not to be doing particularly well Stateside, posting lackluster sales figures. They back up their claims with this year’s sales numbers, which have fallen by 6.5 percent in the first four months of the year, selling just over 20,000 – not enough to justify its presence in the market. In addition, the report states that the Japanese automaker only has a 0.3 percent market share and ranks poorly in reliability surveys.
Now, speaking of 0.3 percent market shares, Volvo is also reportedly on par with Mitsubishi (in a bad way), also selling around 20,000 units through April of this year – 8 percent down when compared to 2012. However, we would take this information with several grains of salt, because Volvo will be bringing new models to the US and expanding its presence, and has recently overhauled its entire range of cars.
Last is automotive magazine Road&Track, which came into being in and around the year 1947. According to the report, it “is the oldest and most well-regarded automotive magazine in the country, according to Hearst, the publication’s owner since 2011.” Basically, they predict that it may survive online-only, but that as an actual printed magazine, Car&Driver, which is also owned by Hearst, will take over completely, with its reported audience of 10.7 million people.
For the record, the other seven brands/products identified in the report as disappearing from the U.S. market in 2014 are J.C. Penney, Barne & Noble Inc’s Nook e-reader, the Martha Stewart Living Magazine, the LivingSocial daily deals website, camera-maker Olympus, the Women’s National Basketball Association, and Leap Wireless.
The study itself is interesting, and some of their arguments are compelling, but this is all speculation after all, so do treat it as such.
By Andrei Nedelea
PHOTO GALLERY
