Another Mega-Auto Firm For Detroit To Contend With
It is not enough that two-thirds of The Big Three have gone through bankruptcy and that GM is controlled by the Treasury Department. Detroit has to contend with the more adroit and well-funded major car companies from Japan. Toyota (TM)…
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European car companies have not done as well as the Asians in the US market.
Mercedes and BMW sales are limited by the price points of their cars. Saab, Volvo, Jaguar, and Rover were all part of US companies and did no better than their parents. Fiat and VW were chased out of the American market years ago.
VW covets the US business that the Japanese have. It is the largest car company in Europe and has a wide range of models that can match any of its global peers. Now, it looks like it will improve its arsenal by buying a large piece of Porsche, gaining de facto control of the smaller firm.
VW has lacked a luxury brand to help it push back into the US market. It has not had a credible competitor for Cadillac, Lincoln, Lexus, or Mercedes. That is about to change.
Detroit’s bad dreams are about to get worse.
Douglas A. McIntyre
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
