For the first time since 1995, Detroit’s Big Three makers gained market share last year – and a new poll of industry leaders suggests that Motown will be able to keep that momentum going.
New product, new technology, improved quality and other factors are all contributing to Detroit’s turnaround, according to the 12th annual global automotive survey by the audit and advisory firm KPMG International. Titled “Creating a Future Roadmap for the Automotive Industry,” the KPMG 2011 Global Automotive Executive Survey underscores a number of significant trends sweeping through the car business here and abroad.
“The survey is a predictor of change,” said Dieter Becker, director of KPMG’s global automotive operations, and one of the biggest factors behind the anticipated change is the rising cost of petroleum. Today, the survey suggests, “Fuel efficiency is the number one consumer concern.”
Delivering more fuel-efficient products has certainly helped Detroit, which saw its market share rise to 45% for all of 2010, an improvement all the more significant considering the bankruptcies of General Motors and Chrysler just the year before – and GM’s decision to eliminate four of its eight North American brands after emerging from Chapter 11 protection.