Detroit automakers loose majority of U.S. market
BEIJING, Aug. 2 (Xinhuanet) -- For the first time in history of the U.S. auto industry, Detroit automakers share of the market in July dropped below 50, according to an industry analyst.
Jesse Toprak, senior analyst for the Edmunds.com automotive website, said that with 95 percent of the manufacturers reporting data, the market share controlled by Chrysler Group, Ford Motor Co. and General Motors Corp. dropped to 49.7 percent for the month.
The automakers who have yet to report data are small and would not push the three back over 50 percent, Toprak said Wednesday.
Foreign automakers controlling more than half the U.S. market will mean little to the average consumer, but it likely will damage the psyche of Detroit's automakers, Toprak said.
"It's probably a turning point for people who look at the record books. Domestics on their home turf are being beaten by the foreign automakers in terms of their market share," he said.
The Detroit automakers' share was as high as 77.4 percent in 1984, according to Autodata Corp., which has tracked auto sales since 1980.
The market share drop came during a month in which all major automakers but Nissan Motor Co. saw sales declines.
GM sales dropped 22.3 percent when compared to a strong July of 2006, while Ford declined 19.1 percent and Chrysler dropped 8.4 percent. Even Toyota Motor Corp., which had been posting strong gains most of the year, reported a decline of 7.4 percent after a record-setting July of last year.
(Agencies)
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