In theory, General Motors and Chrysler were supposed to gain a competitive advantage by shedding fixed legacy costs that would give them an edge over the competition. But, apparently, going bankrupt is not good for your market share. According to Market Watch via Calculated Risk, the December U.S. sales of several major automobile compan are as follows (with year and year changes in sales for the month shown):
* GM down 6.1% to 208,522
* Toyota up 32% to 187,860
* Ford up 32.8% to 184,655
* Chrysler down 3.7% to 86,523
Keep in mind that many of these automakers have seen declining sales for multiple years. The word free fall comes to mind. Simply hitting bottom would be good for these companies.
Hyundai up 8% for the year.
Kia up 10% for the year and 44% for December.
Suburu up 15% for the year.
GM down 30% for the year.
Chrysler down 36% for the year to sales in absolute numbers that were the lowest since 1962.