Interpret Market Trends Developments - Assignment Example

Intеrрrеt Маrkеt trends dеvеlорmеnts Name: Tutor: Subject: Date: 1. Identify all the manufacturers and the importers of Hybrid cars in Australia in 2010 to 2013 Lemon and Miller (2013) explain that all the principal car manufacturing companies are subsidiaries of foreign companies. This means that Australia does not really have domestic business that manufactures motor vehicles. However, Hybrid cars in Australia are manufactured by the following manufacturing companies: a) Toyota: this is the main manufacture of hybrid cars in Australia. These cars are great; they are economical in fuel consumption. Reliable source indicated that hybrid cars are reliable because they are electric vehicle. b) Honda: the Honda Corporation produces hybrid cars that have been rated top and very reliable in its usage. The company has produced the Insight, a hybrid electric vehicle. This car is economical in terms of fuel consumption, and it is affordable. c) Ford: this company produces the best hybrid cars. In fact, one might not realize that he is driving a hybrid car. This SUV has the best fuel economy. d) Nissan: they also offer hybrids with the lowest emission levels and greatly enhance fuel economy. Their cars use the latest technology for the hybrid engines e) Holden: they also produce hybrid cars that are very economical and long lasting. . These companies produce Hybrid cars for Australia people and engines for exports. The official report indicates that the sales of passenger cars were up by 3% as compared to last year (Hunter, 2013). Many customers are shifting their preferences to hybrid cars. These hybrid cars are mostly preferred by the Australian customers and in the entire world because the model delivers driving pleasure. The performance of these models is very high, fuel efficiency and low emissions. The CEO’s of the three manufacturing companies have confessed that Hybrid cars are attracting many customers, and the range will continue to grow. The latest report indicates that Camry Hybrid has joined Prius and is Australia's first locally-built hybrid vehicle. 2. Identify the market shares and trend for each model and brand for 2012 to 2013 In the last three months, Toyota was the top selling brand. The company manages to sell many vehicles. For example, in September, Toyota cars were leading in the market with 17,492 vehicles sold. The Toyota Company also manages to sale the highest number of cars. The company sold Toyota Corolla with 3,443 and the Toyota Hilux with 3,341. The third selling car in the market was the Mazda3 with 3,052 followed by Commodore with 2,869. Hyundai i30 manages to sell 2,675 units. According to the data provided by the VFACTS, Holden was the second highest selling brand with 9,614 units sold. The research also indicated that the rest of the brand in the market performed as follows; Hyundai (8,803), Mazda (7,615) while Ford was 7,505 (Krishnamoorthy at al, 2013). The official report also indicated that there was an improvement in the car selling, in all states and territories of Australia. The market shares of all categories of car selling units were as follows. The general sales of passenger vehicles were approximately 50.3% of the whole market. SUVs represented 26% while the light commercial vehicles were at 18%. The heavy commercial vehicles in the market represented the remaining percentage. The major customers in this market segment comprised of the government, private and business sector.  Private buyers of SUVs and Light Commercials continued strong upward trends while the government was lagging behind (James, 2013). Australian market as being very competitive because the buyers or customers are very sensitive to prices and any other factors that might affect the performance of the vehicle. Toyota company is currently owned large market share because their brand is very economical. Many customers consider various elements before making a buying decision. Some of these elements include the price, the durability of the car and the rate of consuming fuel. Others consider the technology used by a certain brand. It is essential to consider all these factors because many people are looking for satisfaction. It is not about owning a car but satisfying the need of having a car. The performing companies like Toyota Company always consider these factors because their primary goal is to maintain their market share as they look for new potential customers in the market. 3. Identify in the market where you think the strength is i.e. where the largest sales tend to be, and the direction you think the market is heading According to Federal Chamber of Automotive Industries (FCAI) report, the VFACTS figures indicate that the Tasmania was one of the states where high sales were realized. However, they were slight increases in other states such as Victoria, South Australia and others. In this year, the Tasmania recorded a 11.1% increase as compared to the last year. The car is performing in Australia though the sales growth rate is slow. In the general, the car industry improved by 3.3% as compared to last year. The lower sales realized, last month, was prima due to lower interest in passenger cars. However, other segments indicated a slight improvement. In general, performance of the total number of vehicles sold was down by 21% as compared to last year, with 92,662 vehicles sold. All the sectors experienced lower sales this year as compared with last year. The top selling brand for the last few months comprised of Toyota, Holden and Mazda. Customers prefer these models because of their efficiencies. Toyota is the most preferred brand because of its comfort. Furthermore, customers believe that it is simple to maintain Toyota cars as compared to other brands. The Toyota Company targets the Australian market and also the international market. According to the managing director and the marketing manager of the Toyota Company, the target market is segmented based on gender and age. The management feels it is essential because the company produces a variety of cars. According to VFACTS, it is evidence that the private buyers in Australia are looking to obtain a high-specification, luxurious vehicle while avoiding the levy. This need of private buyers is satisfied with the Toyota Company. The company has been able to satisfy a wide variety of customers in the market (Mackenzie at al, 2012). As a way of improving its competitiveness in the Australian market, the Toyota Company adopted its Hybrid Synergy Drive technology to the Prius c platform, redesigning the system’s major components to make them smaller, reduce weight and improve efficiency while driving it. This has attracted a wide market not only in Australia, but in the entire world. 4. Make a recommendation in regards to the trends of Hybrid Cars in Australia in 2010 to 2013 The latest reports indicate that some carmakers are shying away from hybrids though the concept is finding favor among buyers. According to VFACTS, hybrid models are among the new model with high sales figures. This is a clear evidence that the model is picking into the market. The companies that manufacture this model need to improve on marketing so that they can gain market in places where the model is performing poorly (Tyrer and Sykes (2013). According to TMR Managing Editor Tim O'Brien, the hybrid cars have made the biggest shift in the market has witnessed in generations. The editor said that there is no corner of the car market has ever in history witnessed a J-curve. It is only the hybrid cars that have managed it. To confirm this VFACTS figures show that the 13,879 hybrid cars were sold in the Australian market. These sales were from private buyers who made 6040 while the non-private sales were 7839. The hybrid cars target both the local customers and the international customers. The local customers have made 5 percent of the company’s sales. Toyota company has made highest sales of the hybrid cars in the market. This is an indicator that most people prefer Toyota cars as compared to other companies such as Ford company. The company has been able to make this huge sale because it is an international company. The company has many branches and subsidiaries across the world. This makes them to be accessible anywhere in the world. They also made their spare parts available and affordable. References James, M. L. (2013). Vehicle fuel efficiency standards. Mackenzie, J. R. R., Anderson, R. W. G., & Searson, D. J. (2012). An investigation of light vehicle fleet safety in South Australia. In Occupational Safety in Transport Conference (1st: 2012: Gold Coast, Queensland). Krishnamoorthy, R., Takla, M., Subic, A., & Scott, D. (2013). Proposal optimization of Passenger Car Hood Panels for Improved Pedestrian Safety. Advanced Materials Research, 633, 62-76. Hunter, N. (2013). How Electric and Hybrid Cars Work. The Rosen Publishing Group. Tyrer, M., & Sykes, J. P. (2013). The statistics of the rare earths industry. Significance, 10(2), 12-16. Lemon, S., & Miller, A. (2013). Electric Vehicles in New Zealand: From Passenger to Driver?. Read More