A prediction from 24/7 Wall St, a financial news and opinion authority, says 10 big brands in the car industry will disappear from the US market next year. The predicted list mirrors how trends in the industry can hasten the loss of certain brands. Highlighted in the prediction are the competitive nature of certain industries and the significance of not falling behind in certain factors such as efficiency, financing or innovation.
Brand failure may happen due to some reasons. But the website noted that the decline in sales, rising costs, downturn in market share and customers are the most common ones. Brands whose market shares are less than half a percent cannot go up against names like Volkswagen Group, General Motors, Daimler AG, and Toyota. 24/7 predicted that Volvo and Mitsubishi will follow Suzuki, which filed for bankruptcy last year. The month of April marked the decline in sales of Mitsubishi. This made it the weakest-performing car brand in one of the authoritative car sites.