US shoppers are likely to be keen to see who the big winners are this year, with the auction season just getting underway.
Here’s a look at some of the biggest winners, according to auctioneer Richard O’Brien, who runs the American Automobile Association (AAA) auctions and auction website.
O’Brien said he was pleased to see so many big names among the winners, including BMW and Chrysler.
“They are all doing extremely well and we are very pleased,” he said.
“They were all very deserving winners of the auto auction,” O’Brian added.
The biggest winners included BMW, which won a record $1.5bn in the auction for its new flagship, the i8, while its owner, Fiat Chrysler Automobiles, will receive $1bn in cash.
BMW, which also won the auction in 2015 for the brand new M3, is the largest seller of vehicles in the world and is expected to continue to expand its brand.
Its rivals, however, are struggling to win a significant chunk of the market.
Fiat Chrysler will lose about $100m in sales to its rival, the Mercedes-Benz Group, while Tesla, the maker of the electric car, will be forced to sell its car business to the US company in the second quarter of 2019.
But other large winners include the Ford Motor Company, which has been steadily growing its sales by over 300% year on year in the US, and the Ford family of businesses, which are the world’s largest auto suppliers.
The Ford family owns the vast majority of the global automotive industry.
Its success in selling cars is not just down to the strength of its brand and brand-name vehicles, but also because it has been able to create a huge value chain within the US auto market.
The company has also been able, thanks to its deep experience and the strong ties it has with its suppliers, to control prices of its products, including its fuel-efficient vehicles.
Ford has been the most successful American car manufacturer in recent years, and has won three consecutive world championships.
O’dBrien said that the recent merger of the Ford group and General Motors will see the consolidation of its global supply chain, allowing it to offer a more flexible price range to its customers.
He said the consolidation will enable the company to maintain its position as the global leader in the automotive market.
“We will be able to deliver the cars at a better price for our customers,” O’dBrien told news.com.au.
“I think this will give us the best chance to make a profit and to make the best of what we have achieved.”
The company is expected, however to take a hit in 2019.
The deal to merge the Ford and GM group, which will create a new global company, has already sparked a fierce competition.
Ford will be selling its entire global business in 2019, but will be allowed to retain a small percentage of GM.
O’ll be able keep a smaller share of the new company’s global market share.
Ford is set to be sold to another US company, Daimler AG, at the end of the year.
O’ma said that Ford would be able retain control of its US operations through the purchase of Daimlers global vehicle business.
The merger is expected for 2019, although O’dbert said it could take longer.
While Ford and Daimles combined operations will be the biggest in the history of the industry, O’dBriens is not expecting the combined company to take full advantage of the opportunities in the market to develop new models.
“Ford is going to be a big player in the global market for a long time,” he told newscom.org.au, adding that the company had an opportunity to develop products that would compete with the likes of Audi and Porsche.
O’veas been keen to focus on the US market this year.
With the US government pushing for changes to the country’s tax laws and regulations, O’Briensen said the US was the only market where the US had a significant presence in the auto market at all, and that the country was expected to be the largest in the sales of cars in the next few years.
“In the next 10 years, we expect to have the largest market in the entire world,” he explained.
There are also concerns that the US is on course to be an even bigger car market than in 2015.
In December, President Donald Trump signed a new law that gives him the power to impose a $1,000 per vehicle tax on cars that were imported into the US from abroad.
However, he has yet to put into place a plan for a nationwide tax.
Ahead of the US election, O’veas CEO Bob Lutz was widely criticised for his plan to introduce a tax on the sale of used cars, arguing that the money would be better spent on the roads rather than on politicians.