With the introduction of new technology, shifting consumer preferences, and rising environmental concerns, the automotive industry is evolving quickly. As a result, some venerable auto brands may find it difficult to compete and even fail in the next ten years. Here are the top 5 automakers that analysts believe may not survive until the end of the next ten years.
Chrysler: Due to dwindling sales and an outdated product lineup, Chrysler has been having trouble for years. Since 2016, the brand has not debuted a new model and has changed its emphasis from automobiles to trucks and SUVs. Chrysler may not be able to compete against more seasoned competitors like Ford and General Motors in these markets due to the intense competition.
Mitsubishi: In recent years, Mitsubishi has had difficulty gaining traction in the US market due to its minimal presence there. Sales for the company have been steadily declining, and it hasn’t debuted any new models in a while. The dependence of Mitsubishi on gas-guzzling SUVs and the absence of a significant hybrid or electric option could spell disaster for the company.
Subaru: Subaru has long been a specialized player in the US market, with a devoted following among adventurers and outdoor enthusiasts. But the company has had a hard time adapting to shifting consumer tastes, especially in the electrification department. Subaru’s chances of long-term survival may be harmed by the absence of a lineup of fully electric vehicles.
Fiat: Fiat’s sales have been steadily falling over the years as it has tried to establish itself in the US market. Reliability problems have also plagued the brand, harming both its reputation and sales. The narrow product portfolio and weak US presence of Fiat could spell the end for the company in the upcoming years.
Mini: With its little, fashionable automobiles that are simple to maneuver in city traffic, Mini has become a well-known brand among drivers in urban areas. The brand, however, has found it difficult to adapt to shifting consumer tastes and the move toward electric vehicles. The lack of a fully electrified lineup for Mini could make it challenging for the brand to endure over time.
