Even though a smaller car may be better for your budget, consumers aren’t necessarily buying more compact and fuel-efficient vehicles.
But three automakers, Nissan (Stock Quote: NSANY), Daimler (Stock Quote: DAI) and Renault, are partnering to make sure that even if demand for little cars is low at first, they’ll still remain relatively affordable.
Joining forces for the sake of creating economies of scale, the automakers plan to develop “a new generation of small cars,” according to The Wall Street Journal.
MainStreet made it to the New York International Auto Show and there were plenty of small or eco-friendly vehicles unveiled in addition to massive SUVs that still make up a large part of what we see on the road today.
But the very fact that three automakers plan to work together instead of fiercely competing could indicate that consumer interest in compact cars as well as small, eco-friendly electrics may be less than new car expos would lead us to believe. Still, this emerging trend toward smaller, more fuel-efficient vehicles is expected to grow.
In preparation, Daimler, Renault and Nissan will be sharing design features to keep the cost of developing new cars low. Eventually, American car buyers can expect the cute, Smart Car two-seater from German automaker Daimler, as well as a new four-seater to have similar design cues with the Twingo car model from France’s Renault, The Wall Street Journal reports. Additionally, the companies expect to share small car engine technology.