1. What does Hot Wheels as a company do?
Hot wheels as the company have been creating collectable die-cast toy cars since 1968. They made the cars on different scales (1:64, 1:43, 1:18 and 1:50) and basing them off different models from General Motors, Ford Motor Company, Chrysler Motors and many more. Hot wheels also specialise in racetracks which are sold separately to the toy cars.
Hot wheels are owned by Mattel Inc, who is a worldwide leader in designing, manufacturing and marketing toys for children. The CEO of Mattel is Christopher Sinclair. Mattel sells various toys such as Matchbox and Barbie. They designed the Hot wheel’s cars for children to collect them, but within the past 15 years adults have become interested in collecting them and Mattel has designed them limited-edition cars for collecting.
2. What are some other similar companies?
There are many companies that make die-cast toy cars. Such as Matchbox, American Diorama, Highway 61, Arko and Auto World. Matchbox was the highest competitor for Hot Wheels from 1968 to 1996 until Mattel purchased Tyco who currently owned Matchbox. When the Matchbox was bought, Hot Wheel had lost their highest competitor in the die-cast toy making but was still competing with other companies.
3. Why would Hot Wheels want to release a new toy?
Hot wheels would want to release a new car to improve on the features that other Hot wheel car models may lack. They could also release new models that have a completely new design and brand news feature because this would attract customers and collectors to come and purchase the new designs and collectibles. With new releases of the car, they can keep up with their competing die-cast toy car companies. When releasing they toys it allows them to stay on top of their competitors. Another reason for releasing a new car could be proving more for adult collector who collects the limited edition of hot wheels. New hot wheel cars could also be released because car brands release new cars each year, therefore hot wheels would have release similar toy cars to keep up with the replicas of the real-life cars. These factors contribute to a variety of cars for people to collect.
4. List some keywords that you think represents the image of Hot Wheels.
· Colourful and Bright
· Detail and Accuracy
· Vintage and Modern
· Forza Horizon 3
· Crazy designs
· Cool engines