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GM, Ford Losing Share (5/2/12)

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  2. General Motors0:37
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Wed, 2 May 2012|

GM, Ford slide in their home market as one rival comes back and Chrysler carries on; Toyota's strategy for May; Honda stuck in neutral

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Automatically Generated Transcript (may not be 100% accurate)

Behind the declines. White Ford and GM are losing US market share. That's next on auto news now. Welcome to the show for this Wednesday -- Jason Stein Tom -- back as the day off. Well analysts saw it coming the market share gains the Detroit three posted last year were going to be harder to come by this year. As Honda and Toyota roared back from natural disasters. So far 2012 that's been true with a couple of big asterisk. More on those later. First General Motors in posting that 8% sales drop for April yesterday. GM's four month the US share has fallen almost two points from its year ago mark to seventeen point 7%. Some reasons. The -- -- a year ago one of the nation's top selling cars this year off the topped analyst. And so far GM isn't chasing share with discounts average transaction price on the cruise in April. Was 191572. Dollars that's almost 3000 dollars more than the Toyota Corolla. GM also says its fleet sales were 25% lower than a year earlier mainly because of timing to daily rental customers. Retail sales remained flat and don't forget Cadillac and Buick both brands now down for seven straight months lower fleet sales -- factor there. At Cadillac the story is also about product the DT yes and ST yes have been phased out the XTS and eight yes are on the way. No such new car relief on the horizon or Buick. To Ford now -- boss can zoom way pointing out yesterday that Ford is adding 400000. Units of capacity. To address vehicle shortages now that includes a third shift at a Michigan plant that makes the focus compact. Sales are also falling ports to a Ford's top three sellers. The escape and the fusion both slated to be replaced in coming months. Some areas maybe be on the quick fix though the fiesta down 30% this year while Lincoln down 25%. Continues to -- Toyota meanwhile continues its come back. April's 12% gain marked it's six straight monthly increase. Its four months share now at fourteen point 3% up ought to point behind four. A big reason the new memory it was up 21% last month well Prius sales double. And get ready for a strong may division's sales boss Bob Carter says Toyota will offer 0% financing on its seven top selling models. As for those asterisk it's Toyota's come back hasn't heard Chrysler its share over the past year is up two points to eleven point 6%. Honda meanwhile can't seem to get back on track after last year's natural disasters. Sales fell in March and April after rising at the start of the year. The result a half point. A share lost. In other news GM has reportedly considering a smaller stake in Isuzu motors. After the Japanese auto maker objected to a GM offered by a third of its former partner that according to Reuters renowned renewing ties to a -- would give GM another source of diesel technology and further access. To Asian markets. GM once owned as much as 49% of Isuzu but sold the last of that stake in 2006. And finally to this -- Are rare supplier in failing to report first quarter profit. The net loss was 29 million dollars on lower global sales. Now most of that deficit came from a one time 63 million dollar charge for ending a Korean joint venture. A year earlier its younger third. That's it for today shall we look forward to seeing you again tomorrow. For everyone and Automotive News now have a good ones.

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