It was a Japanese car, which celebrated its heyday, but unexpected barrier was stand in the way. It is the collapse of the bubble economy. New car sales of 1991 is lower than the previous year for the first time in seven years, I will be the entire Japanese economy will experience a long recession. Sales of those new models that have been planned during the bubble period appeared was not extended.In addition, from this time, the diversified ones that ask the user of the car, whereas most of the domestic sales was the car of sedan type, a small utility vehicle and typified by a light car, Ya Honda Odyssey so far highly practical minivan such as Toyota Previa has became to occupy the center of the sale.
The automotive industry has been hit by the upheaval, it is not only in Japan.
Importance of scale is increased by the development of the global economy, restructuring of also lacking Manufacturer of the world has been made.
The word "four million units club" becomes a trend, annual production volume has been not survive unless 400 million units. 1998 Daimler-Benz and Chrysler merged in the year, the next 1999 Nissan became a subsidiary Renault. Ford acquired Volvo and Jaguar, was launched the PAG by the addition of Aston Martin and Land Rover. Dizzying mergers and acquisitions is repeated, further industry consolidation went progressed.
