US car makers in deep trouble on sales, margins ...

The market share of the Big Three US carmakers - GM, Ford and DaimlerChrysler - sank to 52.9% in May compared with 57.6% a year ago. Asian carmakers now account for 40.2% of US sales. THis refelecte the overall market drop According to Autodata Corp, who say seasonally adjusted sales totalled 16.1 million units for the year to May, compared with 17.2 million at the same time in 2005.

Sales drops in May were General Motors (GM) 16% Ford 6% and Chrysler Group 11%.
Sales rises in May were for Japanese manufacturers Toyota 12.3% (nearly 20% for passenger sedans) and Honda 11.4%, S. Korean carmaker Hyundai rose 5%.

Nissan however announced sales slipped 7% in May with sales of both cars and SUVs falling.

On Thursday, Ford, in yet another costly sales incentive, announced it would be giving $1,000-worth of fuel to new buyers across the US, GM is currently trialling a similar scheme in California.

The Ford "Drive On Us" Sales Event: offers 0% finance interest and $0 for gas, E-85 or Diesel (Excluding residents of Texas & Oklahoma) Ford will pay for fuel until 2007, "no matter if it's gas, E-85 or diesel, you can drive on us!"

How does it work ? Ford offer a pre-paid Master Card debit card that can be used to purchase up to $1,000 of gas, E-85 or diesel enough to drive 6,000 miles ($1,100 on select trucks and SUVs) ... or simply choose a "bonus cash giveaway" of $1,000 which can be taken in cash or applied to the purchase agreement.

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