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Article: Study: Longer Restyling Cycles Explain U.S. Auto Industry's Loss of Market Share.
- Article from:
- Journal of Transportation
- Article date:
- November 7, 2009
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A failure to introduce new products at the same rate as foreign manufacturers explains the dwindling market share of United States auto companies, according to a new Virginia Commonwealth University study to be published in the Journal of Business Research.
"Non-Price Determinants of Automotive Demand: Restyling Matters Most," a study by three economists in the VCU School of Business, analyzed secular market share changes in the automobile and light truck submarkets. Their research revealed that new product, as measured by restyling, represents the dominant determinant of demand in the auto industry. Other factors, such as price, advertising, rebranding, warranty ...