Even as they struggle through the economic meltdown, car makers can look ahead to a high-growth, flexible, global future according to “strategy+business”.
Research conducted by Booz & Company shows that the global customer base for cars over the next 10 years falls into three broad categories, based primarily on which countries customers live in.
- The rapidly emerging economies (REEs) consist of the so-called BRIC nations (Brazil, Russia, India, and China) and a group of other relatively wealthy developing nations, such as Malaysia, Argentina, Mexico, Turkey, Thailand, Iran, and Indonesia. Millions of families in these countries are making or contemplating the purchase of their first car.
- The lower-growth economies (compared to the REEs) consist of about 100 nations with relatively impoverished populations and poor economic prospects. However, their political leaders are interested in building up the middle class and see personal mobility as a major stepping stone. These countries may become markets for motorised transportation after 2020.
- The mature economies include the established industrialized nations in North America and Europe, and Japan. Population growth and vehicle replacement, rather than economic growth, will determine the market for cars there.
Together, these three groups add up to an enormous amount of market potential. Estimates suggest that more than 370 million additional vehicles could be sold by 2013 and more than 715 million by 2018. Please click here to download the complete article.
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