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| GM, Ford shares spin out |
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Automakers' stock falls on report by J.D. Power that shows Big Three losing out to Toyota, Honda.
The industry tracking firm's closely watched Power Information Network said GM's retail market share fell to 21.7 percent in the first 11 days of December, from 22.4 percent in the same period a year ago.
Ford Motor Co.'s retail market share fell to 15.8 percent compared with 17.9 percent a year earlier, and DaimlerChrysler AG's share fell to 12.6 percent from 13.3 percent, the study said.
Toyota Motor Corp. and Honda Motor Co. Ltd. gained market share in the same period.
"The loss of market share is a continuation of what we have been seeing for a long time," Burnham Securities analyst David Healy said. "And it does not please anyone."
Healy expects December sales of foreign brands to rise 5 percent from a year earlier, while expecting a double-digit drop in December sales at GM and Ford.
Shares of GM have plunged more than 47 percent this year, as the world's largest automaker has struggled with not only loss of market share to foreign rivals, but high health-care and commodities costs and slumping sales of its large sport utility vehicles -- its longtime profit generators.
To compound matters, a strike at GM's main auto parts supplier -- bankrupt Delphi Corp. -- could shut down plants and cause GM to burn through billions of dollars a week, analysts have said.
Fitch Ratings on Monday cut its ratings on Ford to junk status, reflecting ongoing market share losses, slumping sales of SUVs and competition from foreign rivals.
Toyota's retail market share rose to 17.1 percent from 15.5 percent in the first 11 days of December, while Honda's share rose to 11.8 percent from 10.5 percent a year earlier. Nissan Motor Co. Ltd's market share remained flat at 7.4 percent.
Overall, industry new-vehicle sales were down 14 percent for the first 11 days of December, the J.D. Power report said.
"December 2004 was an exceptionally strong sales month ... driven by year-end incentive programs," Bob Schnorbus, chief economist of global forecasting at J.D. Power said. "That makes any year-over-year comparison hard to make, especially with regard to the Big Three."
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Source : http://money.cnn.com
(12/19/2005)
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| New Data Shows Low Seat Belt Use Plagues States With Weak Belt Laws |
| EPA Technology Could Vastly Improve Fuel Economy |
| GM Ends Production of Isuzu Model |
| Executives Promoted at Toyota's Indiana Operation |
| Collins & Aikman Names Dennis Profitt President, Plastics Operations |
| BMW 3 Series Named to 15th Consecutive Car and Driver "10Best" List |
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| Toyota to develop lithium ion battery |
| Pep Boys Offers Tips to Help Motorists Drive Safely This Winter |
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| Ricardo appoints two new directors |
| Kia unveils Soul crossover concept |
| Amerityre Retains CCG for Investor Relations and Strategic Communications Program |
| New Data Show South Dakota's Seat Belt Use Fifth Lowest in the Nation |
| Geely to start car sales in US by 2008 |
| Extended Responsibilities at DaimlerChrysler Communications |
| Leica Geosystems Receives Chinese Outstanding Product Award |
| Visteon Appoints Kimberley Crews Goode as Vice President, Corporate Communications |
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| Sheene's Suzukis up for sale |
| HD Positions and CPS Launch New UK High Accuracy Tracking Service Based on CPS Matrix Technology and Orange Network |
| Collins & Aikman Names Dennis Profitt President, Plastics Operations |
| Visteon Appoints Kimberley Crews Goode as Vice President, Corporate Communications |
| Moon Township, Penn., Family Wins the 'Great Dodge Durango Wrap-Off' |
| Visteon Demonstrates Insightful Automotive Innovations |
| irst Chinese Automaker to Display Work in Detroit |
| Kia releases sketch of all-new ‘Soul’ concept car |
| Toni Melfi leaving DaimlerChrysler AG |
| AFV Solutions is 'Focus On Fleets' Sponsor of Clean Cities Congress |
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| Nissan in Japan Stars Online Repair Shop Time Slots |
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| J.D. Power and Associates Reports: Luxury New-Vehicle Buyers Increasingly Secure Financing Without Assistance From the Dealer |
| Media gives top awards to Nissan |
| NHTSA Safety Belt Use Report |
| Toyota Withdraws From Indy Racing League Competition |
| Kia Rio Named Most Improved New Car for 2006 by Autobytel |
| Kia shows it's got Soul |
| Reader Test Team views Merc S-Class |
| Intel to launch F1 and wider equipment standards partnership with BMW |
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| Ituran Location and Control Ltd.: Filing of a Lawsuit in Israel Against Ituran |
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| Daihatsu introduces new Esse in Japan |
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| Iran-Khodro exports top $115 mln since March |
| Honda Motor to produce next-gen solar cells |
| IIHS President To Retire |
| Delphi committed to agreement with GM, unions |
| GB Sports ‘close to agreement’ on MG Sport and Racing acquisition - FT |
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| TI is in Driver's Seat of High Performance Audio Processing with HARMAN/BECKER Automotive Systems Design Win |
| Power Information Network Reports: Domestic Automakers and Hyundai Motor Lost Retail Market Share When Compared to Early December 2004 |
| GEICO's General Counsel Charles R. Davies to Retire; Dana Proulx Named as Successor |
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| Alado Bumi Automobile targets to sell 2,000 Chery cars next year |
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| Technology and Orange Network |
| New diesel for Suzuki Grand Vitara |
| Research Company Reports Consumer Loan Satifaction Study |
| Honda sees its car sales up almost double digits |
| Mercedes eyes 4.25 bln euro profit by 2008 -report |
| Kia delivers Soul |
| Delphi Focuses Efforts On Reaching Consensual Agreement |
| Some New Yorkers to see auto insurance premium reduction |
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