The Detroit Motor Show is putting on a brave face for 2013 – or else it is real confidence flowing from Motor City again as US makers release a slew of new vehicles which appear to shout loudly ‘Crisis, what crisis?’
The new Corvette Stingray is an event in the USA. The latest incarnation of the legendary muscle car is getting a lot of front-page action, but it has also been noted that luxury and performance are still being seen as the way to get customers to pay more, and environmental or economic concerns are getting shunted towards the back seat again.
“What we’ve seen over the last three to four years is step by step resurgence of energy and excitement. What I’m seeing this year is a tremendous number of debuts from European, Asian manufacturers and domestics. Also seeing a wide range, everything from luxury to entry level vehicles. So what you’re seeing is a tremendous number of reveals, world debuts and overall a lot of energy and excitement,” said TrueCar.com’s Larry Dominique.
Europe’s new car market, once the biggest, is shrinking fast and is now at a 20-year low. Asia is slowing, but America is growing It is in the US that carmakers are expecting the strongest sales growth in 2013, and everyone wants a share. China is also fuelling sales.
Competition is likely to be fierce for the fat margins on offer in the US, but not every company will be a winner. Will the newly-lean US giants be able to hold off their foreign rivals?