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US Powertrain R&D and Market Outlook: Business Opportunities for Powertrain Competition
Fuji-Keizai USA, Inc, Sep 2009, Pages: 104
The global recession of the past few years has had a significant impact on the US automotive industry. In the US, the crisis in the United States is mainly defined by the government bailouts of both General Motors and Chrysler, while Ford secured a line of credit in case they require a bridging loan in the near future. Car sales declined in the United States, affecting both US based and foreign car manufacturers. The bridging loans lead to greater scrutiny of the US automotive industry in addition to criticism of their product range, product quality, high labor wages, job bank programs, and healthcare and retirement benefits.
While the 'Big Three' U.S. market share declined from 70% in 1998 to 53% in 2008, global volume increased particularly in Asia and Europe. The annual capacity of the industry is 17 million cars; sales in 2008 dropped to an annual rate of only 10 million vehicles made in the U.S. and Canada. Sales have slowly begun to rebound in the 2009 and 2010, but the industry is not expected to regain the sales levels of the 2005 until at least 2015.
Additionally, in 2010 the Obama Administration implemented the biggest overhaul of CAFE (Corporate Average Fuel Economy) standards since their inception in 1975. The average fuel economy for cars must improve from the current 27.5 mpg, where it has been since 1990, to 37.8 mpg by 2016. The truck standard has to rise from 23.5 mpg to 28.8. This means cars must improve by 37 percent, trucks by 23 percent. Combined, cars and trucks in 2016 should average 34.1 mpg, up 35 percent from the current 25.3 mpg—a jump of 5.1 percent per year.
Perhaps ironically, the result of this confluence of industry turmoil and regulatory constriction means that innovation is key to the future success of the automotive industry: efficient engines, transmissions, and other technologies will offer significant opportunities.
This report looks at the new CAFE standards and emerging technologies as an opportunity for innovators to engage, and profit from, the new auto industry landscape.
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