The car industry is in trouble and they believe the problem is money. Wrong. More money is just going to keep them doing more of the same.
I believe the auto industry would turn around if carmakers did the following:
1. Make better cars – I don’t own an American car and don’t plan to get one in the near future. Why? Because American cars aren’t as reliable as Japanese cars. Honda isn’t in the brink of disaster. Why? Better cars. Improve your product and things will get better.
2. Use your influence to make buying a car a better experience – Everyone hates going to a dealership to buy a car because they hate dealing with salesmen who they know are scamming them. The auto industry could do something about this, but doesn’t. Make the experience of buying one of your cars more enjoyable and you’ll probably sell more cars.
3. Recognize money is a symptom, not a solution – Every couple of years, the auto industry lays people off and threatens even bigger layoffs if they don’t get help. They didn’t fix the problems when they were small and now they want the government to give them money when the problems are big. These companies are usually bloated with middle management and unnecessary staff. I’m not saying layoffs are good. I’m saying they need to change their ways or they will be her again.
I’m sure there’s more, but this is start…