Prediction: US auto market grows, Big 3 market share shrinks
According to Global Insight, the US auto market will grow next year. From 16.2 million cars sold in 2007, the mark will reach 17 million by 2010 and 17.7 million by 2012. Imports will move 4.4 million units that year, up from 3.7 million now.
But by saying that The Big Three have "have lost the baby boomers," Insight predicts five straight years of declining market share for the American makers, eventually losing seven percentage points by 2012. And before they can think about getting that back, they'll have Chinese imports to worry about. With oil expected to remain above $60 per barrel, and competition coming from all sides, the Detroit boys and girls have their work cut out for them. But we would think that a Volt here, a Jeep JT and awesome 300 replacement there, and some of Ford's brilliant Euro product brought over here, could begin to stem the tide... no?
[Source: Automotive News - sub. req'd]
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