The world’s largest automobile market of the United States has dramatically changed in the past year due to global economic recession. The automotive industry in Amercia has collapsed after the recession brought leading car players GM and Chrysler at the verge of bankruptcy. And, even other car manufacturers were forced to ask for cash support to keep their businesses live.
Many of the U.S. auto companies are finding it hard to recover the losses. Chrysler has already succumbed to its losses and now the Italian car manufacturer Fiat plans to take over the company. General Motors has already taken a huge fund from the government to support its business.
It is believed that at present Ford is the only manufacturer in America that has successfully retained its independent position in the auto market. The car manufacturer refuses to take financial aid from the government but then till how long will the company carry on with the losses? The situation in American car market has become so serious that in the future months even Ford may need to borrow money from the government to support its successful business.
Car manufacturers there are worried that the number of car buyers will decrease as days go by and the investments made on them will go down the drain. But in India, the situation is not the same.
The Indian car industry is climbing the positive track with more and more car manufacturers rolling out new cars to spark a new excitement in the market. All the new cars launched in the market are designed with best of cues and packed with host of technologies to entice waning car buyers. Many Indian car manufacturers like Maruti and Hyundai are witnessing positive curves on the sales graph.
However, the severe loss faced by GM in the U.S. has put its impact on GM cars in India as well. Despite of GM’s aggressive marketing strategy and promotional campaigns, the car manufacturer is not successful in regaining its lost position. Maybe the future has something good for GM. India has given a new hope to many car manufacturers and GM may also find its way out of recession.