Rising fuel prices, concerns close to the environment and deteriorating consumer supposition are the main reasons behind the Light transport Manu facturing diligences revenue loss especially since the year 2006. In fact revenues since 2006 make up declined at an annual rate of about 6.6%.
These concerns have been addressed by manufacturers by making technological advancements in the products and phasing in new supplementary products. For example close of the SUVs have been replaced by expanded hybrids and crossover avail vehicles (CUVs). These consume not only lesser fuel unless in addition greener fuel and produce lower emissions than the older vehicles frankincense causing less pollution and harm to the environment. In fact these newer products have been extremely popular in the market and have accounted for almost 50% of the total revenue of the Light Truck Industry market in 2011. The advances made in the engineering have helped in boosting the overall industry revenue.
The government is also taking note of consumer concerns regarding high fuel prices and has initiated programs which have compel the manufacturers to take note of this concern.
In July 2009 the US government initiated a program known as Cash for Clunkers which essentially allows vehicle owners to trade in their old, less fuel-efficient vehicles in exchange for more fuel-efficient vehicles. In July 2011 the government updated the government-regulated industry standards for fuel economy. Corporate add up Fuel Economy (CAFE) regulations were revised to require all visible light trucks and SUV fleets to maintain a 23.5 MPG average fuel economy by model year 2016.
It is expected that over the next quadruple years, automakers volition focus on producing CUVs and light trucks which will have an emphasis on improved fuel efficiency. By providing additional powertrain options, including clean diesel and hybrids, revenue is expected to shape up recover. This emphasis should reduce the overall operating costs to...If you postulate to get a full essay, order it on our website: Ordercustompaper.com
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