Mitsubishi, Volvo Named to List of Brands to Disappear in 2014

What do JC Penney and Mitsubishi have in common? According to 247wallst.com neither will be around in 2014.

And Mitsubishi isn’t the only automaker on the site’s annual list of brands that will disappear the following year. Also making the dishonor roll is Swedish car company Volvo.

The criteria used for each brand’s placement on the list includes a list of seven factors: declining sales and losses; rising costs that can’t be offset by higher prices; loss of customers; declining market share; the sale of the company, bankruptcy and finally notification by the parent company that the brand may be going out of business.

Mitsubishi is cited for sales that are “nose diving” with fewer than 60,000 units sold in 2012. Those numbers have continued to decline by 6.5 percent year-to-date with a total U.S. market share of just 0.3 percent in April. Public perception is also to blame with the most recent J.D. Power vehicle dependability study ranking Mitsubishi 30th our of 33 brands.

Volvo is also cited for poor market share with just 0.3 percent, though as a luxury brand that number is less devastating. Still, sales are down 8% so far this year in an up-market. The brand’s limited lineup is also to blame. In fact, the site goes so far as to say Volvo might be in crisis both in the US and globally with allegations of fraudulent dealer actions in China.

Mitsubishi and Volvo are the only automakers on the list, but they aren’t the only auto-related companies. Also cued-up for demise in 2014 is the long-standing auto enthusiast publication Road & Track. The magazine makes the list for shrinking revenue and diminished demand while it competes in a crowded market, that also includes its more popular print sibling, Car & Driver magazine.