Quick Stats on Buick

Founder	David Dunbar Buick
Year Founded	1899
Origin	Detroit, Michigan, United States
No. of Employees	155,000+/td>
Company Type	Public
Market Cap	US$60.267 Billion of GM
Annual Revenue	US$21.6 Billion (2021)
Net Income/ Profit	US$2.4 Billion (2021)

 

Products & Services by Buick

This company provides premium products to customers.

• Automobile
• Automobile parts
• Vehicle financing
• Vehicle service and parts

Competitors of Buick

Buick competes on a global level as it produces reliable products. The top 5 competitors of Buick are

• Honda
• Mazda
• Kia
• Nissan
• Volkswagen

Now that we understand the company’s key business, let’s look after the SWOT Analysis of Buick.

SWOT Analysis of Buick

SWOT Analysis of Buick can show how a well-established company uses its opportunities to ensure its growth. It can show how the company takes advantage of its strengths to use the opportunities while working on its weaknesses. SWOT Analysis of Buick will also reveal its expansion plans.

To better understand the SWOT analysis of Buick, refer to the infographic below:

Now first let’s begin with the strengths of the company from the SWOT analysis of Buick.

Strengths of Buick

• Design & Advanced Technology: This is the best tool used by the Buick experts to make it still growing in the market along with its electric operating car system and elegant car designs which makes it eye-catchy.
• Powerful Brand Appearance: Buick is owned by General Motors which is the plus point and the way they inspire people through their advertisements is unbeatable which makes it more prominent in the market.
• High Calibre Cars: Buick designed iconic SUVs which gave the boost to this automobile company. Buick cars provide comfortable rides and a pleasant sitting environment due to their advanced car system.
• Popularity Among Elite Class: Buick manufactures luxurious cars which makes it more affordable in high-class society because they can bear the expenses. In other words, their targeted audience is rich people.
• Market Position: Buick cars are mostly found in 40 countries that are economically stable so the major marketplace of Buick is the USA, Canada and China etc.
• Cooperative Dealer Community: Buick has friendly relations with its dealers that’s why they are the main source of sales and brand promotion in the market.

Weaknesses of Buick

• High Prices: Buick cars are still undiscovered by developing and underdeveloped countries due to their high rate. 
• Rely on the US Market: The scenario was even worse when Buick had to rely on the US market due to covid 19 pandemic in 2019 to 2020 the major source of revenue was only the USA market.
• Still Not Known in Some Countries: Buick has still not been introduced in some countries of the world which is still an alarming signal. They’ve to set up companies in other countries as well.
• High Maintenance Rate: The estimated cost of 10 years of Buick car maintenance is $12,500 which means $1,250 per year which is quite expensive.
• Rental Charges: A high percentage of the estate in use by Buick is on rent, and rental charges are required to be paid.

Opportunities for Buick            

• Upgrading Asian Markets: Some Asian countries, in collaboration with Buick, want to establish their own automobile companies which is a 360 degree turnover for a  country. 
• Internet Marketing: We usually don’t see any Buick advertisements on Youtube, Facebook and other social media platforms which indicates that Buick is missing out on a major chunk of the market which is on the internet. So, Buick must explore the internet to expand its business.

Bonus Tip: You must also learn the latest digital marketing skills such as social media marketing, Facebook & Instagram ads, website development and many more to keep yourself ahead of the competition. Also, learning these skills and adding a badge of expertise is proven beneficial for students in terms of career growth and job opportunities. So do check out for your benefit…

• Easy Instalments Facilities: If Buick gives its customers cars in easy instalments it will increase its sales globally.
• Technological Developments: Technology succeeds with numerous advantages among many departments. Operations can be automated to diminish costs. Technology enables better data to be obtained from customers and improves trading accomplishments.
• Parent Support: With the support of its parent company – GM, Buick can explore newer markets and in-turn possess several acquisitions through financial and advisory support.

Threats to Buick

• High Competition: Brands like BMW, Mercedes and Lexus are performing better than Buick in the luxury market segment with the help of market coverage and more reach in other nations. 
• Lack of Independence: Buick is the division of General Motors and if for instance, General Motors faces a financial crisis so there is a high possibility the Buick will also be affected. So, Buick should try its best to work as an independent company in the market.
• Technological Advancement: Autopilot cars, hybrid cars and Electric cars with a new sense of sound recognition technology are the centres of attention nowadays which is again a threat for Buick cars whose high power engine needs Diesel to operate.
• Different Countries Make Different Laws: Every country wants to earn more to do so they sometimes make some amendments in their laws, as a result, the Buick has to suffer.
• New Entrants: There have been various players that have entered the market and are gaining market share by gaining the existing company’s market share. This is a threat to Buick as it can lose its buyers to these new entrants.
•  

This ends our SWOT analysis of Buick. Let us conclude our learning below.