Chevrolet was founded back in 1911 in Detroit, Michigan, which should come as no surprise as it is the epicenter of car manufacturing. The company has a long history filled with secrets that led to their continued success. They have managed to survive through wars and depressions, even though the odds were against them, and they continue to create outstanding vehicles.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by Chevrolet.
Chevrolet At A Glance – Chevrolet SWOT Analysis
Company: General Motors (GM)
Founders: Louis Chevrolet | William C. Durant | Samuel McLaughlin | Arthur Chevrolet | Edwin R. Campbell | William Little
Year of establishment: 3 November 1911, Detroit, Michigan, United States
CEO: Mary Barra
Headquarters: Detroit, Michigan, United States
Employees (Dec 2020): 155,000
Ticker Symbol: GM
Annual Revenue (Dec 2020): US$122 billion
Profit net income (Dec 2020): US$6.4 billion
Products & Services: Automobiles | Commercial Vehicles | Automobile Repair | Cars | Trucks | SUVs and Crossovers
Company Website: www.chevrolet.com
Competitors: Honda Motors | Toyota Motor Corporation | Nissan Motors | Hyundai Motors | Fiat | Mitsubishi Motors | Maruti Suzuki | Tata Motors
Chevrolet SWOT Analysis – SWOT Analysis Of Chevrolet
SWOT Analysis Of Chevrolet analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Chevrolet SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Chevrolet SWOT Analysis. Below Is The Detailed SWOT Analysis Of Chevrolet.
Chevrolet Strengths – Chevrolet SWOT Analysis
1. Worldwide Presence: Based on Chevrolet statistics, they have operations in more than 200 countries. In these 200 countries, USA is their most popular market in which they sell the most of Chevrolet automobiles compared to other nations around the globe. The developing nations such as China, India are among the developing markets that the company is striving to establish its own. It makes automobiles in 37 nations, under 13 brands.
2. Web 2.0 Innovation and technological advances: From participating in competitions using its sports automobiles (NASCAR, INDYCAR & The FIA World touring car championship) to introducing Hybrid models such as Chevrolet Malibu & Tahoe (in US market), Chevrolet has more than 100 years of experience. The company is also investing in hybrid and plug-in vehicles for cars as well as trucks.
3. the parent firm General Motors is a renowned name in the automotive industry: GM has 13 brands including Chevrolet, GMC, Cadillac, Buick, Opel and many more. It is currently among the largest automakers in terms of vehicle sales unit.
4. Products Portfolio: It has presence in every segment from sedans to hatchbacks to SUV’s. They also appear in Commercial vehicles such as trucks and buses.
5. Workers: The Workforce has been created a workforce of over 300000 highly skilled workers working in more than 100 countries.
6. US market: Also, after the bankruptcy of GM, sales dropped by a quarter percent in the US however, the company began looking with a ferocity Asian markets such as China, India etc. with lots of potential. That’s why they’re back on a an upward trajectory.
Chevrolet Weaknesses – Chevrolet SWOT Analysis
1. Controversies over recalls of cars: Controversies of recalled cars because of defective ignition switches, which have led to at the very least 13 deaths, resulting in an estimated loss in the amount of $1.3 billion. The news about this has a negative impact on the image of a brand.
2. bankruptcy of GM: After a period of decline, GM was finally brought to the ground by the economic recession (2008-09) and the freezing of credit markets, which forced the company to fall into the hands by the Federal government. The company was also removed from the Forbes 500 of businesses because of declaring bankruptcy. All of these circumstances had an impact on the brand image of the companies in the group.
3. brand visibility: One of the most crucial areas that the GM group of companies are having difficulty with is advertising, that results in lower visibility across various media, especially when compared with other competitors.
4. Costly after sales service: After sales service is among the main factors that influence the buying choices of customers in the automotive industry. Chevrolet offers a costly after-sales service that is accompanied by the highest prices for spare parts in comparison to other companies in the same sector, which influence the buying choices of customers.
Chevrolet Opportunities – Chevrolet SWOT Analysis
1. Growing the range of products: By increasing their range of products and by the introduction of new series in various categories, Chevrolet can increase their sales because there will be more options for customers to pick from within identical brand.
2. Strategic Alliances: Chevrolet does not have many strategic partnerships with different businesses. It is able to join strategic alliances with other companies to redesign or design their offerings.
3. Changes in life style and customer groups: A shift in the customer’s lifestyle and the increasing number of nuclear families that are coming into the world who will require a vehicle for their family of four could lead to an increase in automobile requirements.
4. Expanding market: Entering into new markets and further gaining access to emerging markets such as India, China etc. will allow the company to boost revenues.
5. The commercial vehicle industry is growing: Market volume expected to exceed around 29 million vehicles by close of 2015. The growing awareness and the increase in utilization by public transport could add to the steady growth even if the passenger vehicle business slows.
Chevrolet Threats – Chevrolet SWOT Analysis
1. Competitors from other automotive competitors: There is fierce rivalry from other car giants in commercial and passenger vehicles. The competition is fierce in this business and nothing can hurt companies more than internal tensions, and this could stem caused by group companies themselves.
2. Regulations of the government: The policies of government, such as cutting down on global warming by prohibiting personal vehicles, reducing validity of permits for road use, fluctuations in fuel prices as well as limiting entry for outside state vehicles are just a few of the rules and regulations that are in place in different regions around the globe and are affecting the field generally.
Chevrolet SWOT Analysis Template
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