LAST DECEMBER Fiat Group chief executive Sergio Marchionne predicted that by the end of this global recession only six car firms would stand tall in the mainstream market – the others would have gone to the scrapyard. It seems a plausible argument, particularly as his statement coincided with the former goliaths of the US car industry, General Motors and Chrysler, seeking bankruptcy protection.
Yet, not everyone agrees with his global consolidation model. Toyota’s recently appointed president, Akio Toyoda, believes it ignores the numerous electric car start-ups in the market. Speaking at the opening of the Tokyo Motor Show last week, he said the industry is changing, but not simply through consolidation. The advent of the electric car may well herald several new car giants in the future.
