Word: low-cost
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...efficient cars are beginning to gain traction not just in Japan but all over the world. For example, DaimlerChrysler plans next year to begin selling its two-passenger Smart mini in the SUV-loving U.S. At the same time, most of the world's major automakers expect to produce low-cost subcompact cars for growing middle classes in China, India and other developing countries. Yet the market for kei is likely to remain largely restricted to Japan. That's partly because profit margins are too low to justify international sales. Daihatsu sells some of its minis in Southeast Asia...
...skies to greater competition four years ago, the number of air passengers has nearly doubled, from 48.8 million in the year ending March 31, 2004, to 95 million today. Meanwhile, nine private airlines have started up in recent years. Some, like Kingfisher Airlines, are full service, but most are low-cost carriers that have wooed millions of travelers away from India's sluggish train and bus networks--and into its sluggish airports, which lack sufficient gates, baggage-handling equipment and other facilities...
...technology. We've doubled our science budget because we want to be at the cutting edge of new scientific advance where the value added that can be produced from science, innovation and technology is absolutely crucial to any advanced industrial economy in a period when a lot of low-cost manufacturing is going to be based in Asia, for example...
...Praful Patel, says the merger will improve operating efficiencies and cut costs by up to $150 million a year. Similar competitive advantages are being sought by Jet Airways. Jet became India's most successful airline after launching in 1993, but in recent years it has lost market share to low-cost upstarts like Air Deccan, IndiGo, GoAir and SpiceJet. Merging with Air Sahara will give Jet 27 additional aircraft and, perhaps more importantly, more gates at congested airports...
Delta might be enjoying a bit of blue sky, but Grinstein understands the frustrations of airline travel. Pricing is a big one. The rise of low-cost carriers was supposed to simplify prices for everyone, but that hasn't happened. "People are suspicious," he says, "and wonder what kind of game is being played because they don't understand what the system is designed to do." Ideally, he says, airlines would have an auction at the gate for every seat on a flight; those who absolutely had to fly would pay the most...