GM Seen Holding U.S. Share After Slipping to 88-Year Low |
| Bloomberg - Jan 8, 2013 |
General Motors Co. (GM) likely will maintain its position in the U.S. after its market share plunged to the lowest since Alfred P. Sloan’s first full year running the company.
GM may end this year with 17.9 percent U.S. market share, in line with where it finished 2012, according to a Bloomberg survey of five analysts. The Detroit-based carmaker’s share ended last year at the lowest point since 1924.
From the days when Sloan proposed offering “a car for every purse and purpose,” GM rose to 51 percent of the market in 1962 and held 31 percent as recently as 1997. GM lost 1.7 points last year, the most in the industry. Analysts project no moves that large this year.
“GM recognizes like all the major manufacturers do that we’re in a market where no one automaker is going to sit with 25 or 30 percent market share,” said Alec Gutierrez, an analyst for researcher Kelley Blue Book in Irvine, California. “A consumer can walk into a showroom at any of these major manufacturers and pick up something that’s generally going to be comparable to the best in the industry.”
Read Full Article from Bloomberg
- Posted: 2013-01-08 13:29:37
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