Volvo and Mitsubishi among brands predicted to disappear from US next year
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Volvo and Mitsubishi among brands predicted to disappear from US next year
24/7 Wall St., a financial news and opinion website, has identified 10 big brands that it believes will disappear from the US market within the next 18 months. The list "reflects how industry trends can accelerate the demise of certain brands," says the publication, noting the "brutally competitive nature of certain industries and the importance of not falling behind in efficiency, innovation or financing." Failure of a brand may happen for a variety of reasons, but the website points out that declining sales, rising costs, losing market share and a loss of customers are nails in an impending coffin.
According to the report, automotive brands with market shares under half a percent cannot remain competitive against giants like Volkswagen Group, Toyota, General Motors and Daimler AG. Citing the loss of Suzuki when it filed for bankruptcy last year, the website is predicting that Volvo and Mitsubishi will follow, exiting the US by the end of 2014. Mitsubishi's sales were down 15.51 percent in April - making it the weakest performing automaker on our monthly By the Numbers roundup.
http://www.autoblog.com/2013/05/27/v...ted-to-disapp/
According to the report, automotive brands with market shares under half a percent cannot remain competitive against giants like Volkswagen Group, Toyota, General Motors and Daimler AG. Citing the loss of Suzuki when it filed for bankruptcy last year, the website is predicting that Volvo and Mitsubishi will follow, exiting the US by the end of 2014. Mitsubishi's sales were down 15.51 percent in April - making it the weakest performing automaker on our monthly By the Numbers roundup.
http://www.autoblog.com/2013/05/27/v...ted-to-disapp/
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Volvo might be next since they decided to leave their most popular market (station wagons) ...
Too bad they don't wanna sell the V40 in the USA.
Too bad they don't wanna sell the V40 in the USA.
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Strange timing, I saw a Mitsubishi commercial about a month ago and it said something about the car having a 10 year 100,000 mile warranty, and I thought to myself " That warranty is worthless, Mitsubishi wont even be here in 10 years, probably not even in 3 years."
I don't even have a clue where a Mitsubishi dealer even is near me. Can't even remember the last time I saw one.
I don't even have a clue where a Mitsubishi dealer even is near me. Can't even remember the last time I saw one.
Volvo I think would be premature. The S60 line seems to be selling very well around here at least (DC area), as is the XC60. Their various other models also are soon for updates so I think Volvo will stay in the game for a bit yet.
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