02 August 2007

Big Three A Minority

NewMexiKen notes:

“GM, Ford, Chrysler Combined Have 48% of Market Share.” . . . It’s the first month ever that U.S. automakers have been below 50%.

The source story at the Washington Post notes:

Japanese automakers . . . enjoy lower U.S. labor costs, positive foreign exchange rates and more popular product lines.

Toyota's Lexus brand sold 27,141 in July -- nearly double the sales of Ford's entire European luxury line from Volvo, Jaguar and Land Rover.

Sales were down almost across the board in July, but U.S. automaker's sales fell faster (in part due to decreased interest in low profit rental fleet sales):

GM -22.4% (to 312,623 vehicles)
Ford -20% (to 179,218 vehicles)
Chrysler -8.4% (to 137,728 vehicles)
Toyota -7.3% (to 224,058 vehicles)
Honda -7.1%
Nissan +1.7%

Toyota sold more cars than either Ford or Chrysler. So, Toyota is number two in U.S. auto sales. This is likely to remain the case, as Ford is trying to spin off some of its brands (Jaguar and Land Rover are on the auction block and it is widely rumored that Volvo might follow), while Toyota is not.

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