Carmakers certainly aren’t happy that fuel prices spiked the week before the Geneva Auto Show, especially since they had 170 premiers all lined up. However, the recent gas price hike does have carmakers highlighting their latest efforts in green technology. Ford Motor Co. reported that the company is increasing its current offering of low-emissions technologies. Ford hopes to have five alternative powertrains in European markets by the year 2013. These powertrains will include electric, hybrid, and plug-in technologies.
Generally speaking, most carmakers are showing economic recovery. However, the spike in gas prices may discourage consumers from buying new cars. Most car companies are thus putting their emphasis on fuel efficiency. The Phantom by Rolls Royce could definitely give electric cars a better name. The car is designed with luxury in mind. It will be unveiled recently. BMW (the owner of Rolls Royce) is launching a new ActivE electric concept car in the show, too.
PSA Peugeot and BMW announced they will invest $138 million together in a hybrid technology campaign for 2014. The joint project will also develop electric powertrains.
Volkswagon is also getting in on the luxury green power action. Porsche, a Volkswagon-owned company, will present the Panamera S.The Panamera S boasts a fuel efficiency of 1.8 gallons per 62 miles.
Many car companies are expected to highlight their engine downsizing. Nissan will show a 1.2-liter three-cylinder engine that supposedly has the same power as a 1.5 liter four-cylinder model in their Nissan Micar DIG-S. Fiat will also be showing a downsized engine. Fiat is also launching the Fiat Freemont, which is the first Chrysler-Fiat combination. The Fiat Freemont is based on the Doge Journey.
This year’s Geneva Auto Show shows the optimism carmakers are feeling, with the show organizers reporting that they had more requests for space than they had available. The biggest sign of carmaker recovery, however, lies in the sheer amount of new cars being unveiled at the Geneva Auto Show. If carmakers don’t have a profit at the end of the year, they can’t invest in new products. This show reveals hope within the industry.