Foreign carmakers outsell Big Three for first time in U.S.
Foreign cars outsold domestic brands in the U.S.
market for the first time.
Latest sales reports by world’s automakers
showed that foreign cars outsold domestic brands in the U.S.
market for the first time as sales by the Big Three
nosedived.
Trouble in the U.S. housing market has spread to car dealer showrooms, with worrying implications for the broader economy, and Detroit is no longer the carmaker of choice for the majority of Americans.
Total car and light truck sales in the United States fell 12.3 percent in July. With sales of foreign models off 5 percent from July 2006, the falloff for the Big Three — General Motors, Ford and Chrysler — was a much bigger 19 percent.
Foreign cars accounted for almost 52 percent of July sales, although the milestone might not be very meaningful in an industry that is increasingly globalized, industry analysts said.
Trouble in the U.S. housing market has spread to car dealer showrooms, with worrying implications for the broader economy, and Detroit is no longer the carmaker of choice for the majority of Americans.
Total car and light truck sales in the United States fell 12.3 percent in July. With sales of foreign models off 5 percent from July 2006, the falloff for the Big Three — General Motors, Ford and Chrysler — was a much bigger 19 percent.
Foreign cars accounted for almost 52 percent of July sales, although the milestone might not be very meaningful in an industry that is increasingly globalized, industry analysts said.
Peter Morici, an international trade expert at the
University of Maryland, said the Japanese and then the Koreans needed years to
learn how to make good cars to grab a significant share of the U.S. market. And
“it’s not going to take the Chinese that long,” he
said.
There will still be the occasional quarter when GM shows more black on the books than Toyota [not the most recent, though] - or the Big 3 crawl back above 50% - but, for the near term, results like that will only reflect selling-off profitable assets.
Paying attention to what people need, maybe even before they realize it themselves, is what puts a company in command of their market.
There will still be the occasional quarter when GM shows more black on the books than Toyota [not the most recent, though] - or the Big 3 crawl back above 50% - but, for the near term, results like that will only reflect selling-off profitable assets.
Paying attention to what people need, maybe even before they realize it themselves, is what puts a company in command of their market.
Posted: Sat - August 4, 2007 at 10:42 AM