While this blog makes much of the shift to an intangible economy, it is good to remind ourselves that the tangibles - hard goods - will remain an important part of the economy. To keep this in perspective, I would point to the words of Toyota North America President Jim Press on the future of the automotive industry - as reported in Manufacturing & Technology News:
“If you ever wonder about the future of the auto business, you could do what I do on a Sunday. It’s kind of fun,” Press said. “Go to the hospital maternity wards. Do you ever do that, just go up there? You don’t know anybody. They’re all friendly, right? Everybody’s having a good time and big smiles and while you’re there in this happy place, just remember, each one of those little blue and pink baskets is 13 or 14 purchase cycles. It’ll cheer you right up. It’s a wonderful opportunity.”
Press is right: 13 to 14 purchasing cycles per new born -- that is a lot of cars to be sold over the next century or so.
To see Press's prepared remarks, see the Toyota website
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