Automakers, in an attempt to survive in a hyper-competitive market, are introducing more new vehicles than at any point in the past two decades. The trend is powered by a desire to gain market share, capitalize on the popularity of segments such as subcompact SUVs, meet stricter federally mandated fuel requirements and entice new buyers with fresh products.
Automakers have launched an average of 38 new models per year for the past two decades, but over the next four years that number should balloon to an average of 48 new models per year, according to John Murphy, senior auto analyst for Bank of America Merrill Lynch Global Research.
“The model-intro activity is picking up pretty aggressively as we go through the next four years,” Murphy told automotive journalists in Detroit recently
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