"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, August 02, 2007

Detroit share of US auto market shrinks below 50% - bridge crumbles in sympathy

"US manufacturing industry has failed to understand and react to a rapidly changing world. Emboldened by the strident, pre-emptive, transformational world of the Bush imperialist gang, exporting by force of arms and bribery their distorted vision of democracy, their own has been disembowelled. "

GM makes you sick 18/3/05

For the first time ever, the US automakers market share in their homemarket fell below 50% in July.

Leading number crunchers on the auto industry Jesse Toprak, of Edmunds.com automotive Jeff Schuster, of J.D. Power and Associates, both reveal this revealing benchmark today.
Sales trackers Autodata Corp., also says the retail market share controlled by Chrysler Group, Ford Motor Co. and General Motors Corp. at 49.5 % and that includes their import brands, Saab, Volvo, Land Rover and Jaguar (both up for sale) . Nissan sales are up 4.2 % so far this year.

In July GM sales slumped 22.3% (down 9.4% for the year so far) compared with '06 Ford declined 19.1 percent (down 12.2 percent for the year) and Chrysler fell 8.4 percent (sales fell 9.1 percent so far)

Detroit boosters say, well that's fine but it doesn't include bulk sales for rental companies and fleet sales. Everyone knows there is no profit in rental sales and in deed Ford are planning to cut sales into that market by 30%

They also point to the BIG 3 Detroit makers reliance on trucks which they claim make 30% of their sales compared , say with Toyota at 5%.

The US domestic motor manufacturing business is being eclipsed. Gas prices rise (with zero prospect of it falling soon or indeed ever) and they continue to turn out overweight, gas guzzlers whose engine design / fuel efficiency / build quality is 20 years behind the rest of the world.

This is what the Huffington Post lead on after the twin Cities Interstate Bridge Disaster and what Senate Majority Leader Harry Reid, D-Nevada has to say.

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