It the matter of the past when vehicles were considered to be luxuries. It’s actually a perfect dabble between a need and a want. Basically, you will buy an automobile of your own as soon as you can afford as it not only increases status but also utility. Moreover, even getting an automobile is not difficult due to the various financing options available. The fact of the matter is that automobile companies not only have to take care of making cars, they have to take care of the buying patterns of the people. There are various types of segmentation used by the automobile companies. But there are many brands which are preferred more than the others.
Here are few of the top automobile companies –
Toyota Motor has passed the milestone of 10 million unit sales in 2014, taking the lead as the world’s largest automaker. Working around the ever falling Yen, Toyota’s operating profit margin was 10.1%. Currently, the Yen rides on 125 per dollar. Since profit is the king although sales do matter. Moreover, profits are enormously impacted by currency fluctuations. So, with the Yen and Euro falling in value, one can expect the Japanese and European automakers to continue their strong run.
Volkswagen stood toe to toe with Toyota in the market giving it a tough competition as the world’s largest automaker. It still remains to be seen if the German automaker can hold the number one title for the coming year. However, since the automaker claimed the top spot in China, the world’s largest vehicle market, and remains dominant in Europe, it is looking to be a bright year for the company.
General Motors has a record of more than two per cent sales led by strength from North America and China. Growing strong over the years, GM and its four brands expect an overall boom in the west. As they saw the profits rise in the two quarters, the American automaker is also benefiting from external market conditions.