With our attention spans growing ever shorter, and our willingness to drive older cars receding, the auto industry has realized that to sell the most cars, you also need to have the newest cars, which is why Ford will replace 26 percent of its line up by 2016.
This, according to a Bank of America/Merrill Lynch report, is the fastest turnover of new models out of all car companies. While Ford will replace 26 percent of its vehicles by 2016, GM is hot on their heels at 25 percent, with Toyota and Nissan also right behind at 24 and 23 percent respectively. Chrysler is bringing up the rear, with only 20 percent of its lineup slotted for replacement by 2016.
Automakers are seeing the correlation between gaining market share and offering new products, and are capitalizing on it. “As automakers emerge from the trough in the cycle, more are aiming to spur demand by launching fresh product rather than discounting stale models at the expense of margins,” Bank of America/Merrill Lynch analyst John Murphy wrote.
Some new Ford models include the Ford Edge and Lincoln MKX crossovers, redesigned F- Series pickups and updated Mustang sports car.
[Source: Auto News]