Market Snapshot

General Motors announced that they are planning a production version of its well-received Chevrolet Volt concept, according to a recent AutoWeek article. GM says they are now working on the production engineering of the Volt concept, which will ride on the next-generation Delta platform. This will be the same platform the upcoming Cobalt or Astra small car will be built on. Two versions of the Volt will be put into production: one powered by a hydrogen fuel cell and the other will run on gasoline.

Although convertible hardtops have been around for some time, this past year has seen a huge influx of less expensive niche models with folding hardtops, according to a recent AutoWeek article. The article states, as hardtop convertible variants were introduced on vehicles, such as the Volvo C70, Pontiac G6, Volkswagen Eos, Chrysler Sebring, Mazda MX-5 and BMW 3 Series, automakers pushed their benefits: protection from the weather and theft, a quieter ride and even better body stiffness.

Nissan will offer enthusiasts a highly modified version of its popular sports car: the 2007 Nissan NISMO 350Z. This marks the first time the NISMO package is available for the 350Z. The automaker says that they’re capturing the level of an enthusiast that wants customization at the dealership, but with this, enthusiasts are also turning to the specialty-equipment industry for their custom parts and accessories.

So how much money will consumers have in their pockets after purchasing a new vehicle? According to the “Auto Affordability Index” compiled by Comerica Bank, the purchase of an average-priced new vehicle took 24.7 weeks of median family income in the first quarter. This is down 1.5 weeks from the fourth quarter, and is also down 0.5 weeks compared to a year ago. This means that consumers have more discretionary income in their pockets to purchase specialty-equipment parts and accessories. 

Automakers continue to focus on new technologies that enhance driver safety. For example, electronic stability control is becoming more prevalent in the new vehicles released by the OEMs. In addition, automakers are now using electronically controlled suspensions to enhance consumers’ driving experience. For example, Tenneco Inc. recently announced that its Continuously Controlled Electronic Suspension (CES) system is featured on the new Mercedes-Benz C-Class launched in Stuttgart earlier this year.

Market-watchers have been particularly interested in the rash of announcements on fuel-cell (FC) vehicles that surrounded the 2007 Shanghai Auto Show and the recent funding and development news at the Hydrogen & Fuel Cells 2007 exhibition in Vancouver, according to a recent Fuel Cell Today article.

Blogs all over the Internet are buzzing about GM’s decision to offer two V6 engines in the new Saturn Vue midsize crossover, which will be available this summer. Both powerplants will be produced by General Motors. So what’s the big deal about that? Only the fact that the decision is ending an eight-year supply agreement with Honda Motor Co.

Just over half of the 290,000 Vues sold since 2004 have been outfitted with the Honda 3.5L V6. Featuring variable valve timing, the 24-valve OHC engine makes 248 hp and 242 lb.-ft. of torque.

Honda says it will put a sleek hydrogen fuel-cell sedan into limited production next year and will sell a unique mass-market hybrid in the United States within two years. It will be priced less than the $25,000 Civic hybrid.

All buying decisions are made based on emotion, as are all decisions NOT to buy, according to Larry Merserearu—small business consultant, speaker and author in the field of marketing and promotion.

Emotions fall under two general categories: fear and greed. Almost any product can be advertised using either emotion. But if you really want to get your prospects’ interest, fear is the more powerful of the two.

Give your products and services some thought. What will be better about your prospects’ lives after they start using them? Will they be healthier, wealthier, wiser?

Good leadership drives the specialty-equipment industry, and business owners that clearly understand their role as leaders could help ensure a long business life ahead of their company. SEMA conducted a webinar earlier this year on leadership, and a presentation of that webinar can be viewed by clicking here. In addition to this valuable resource, a recent article posted on Dave Anderson’s LearntoLead.com discusses how founders of two auto manufacturers undertook their roles as leaders in their respective companies.