Niche No More
April 4, 2007: Bloomberg—Toyota, Honda, Mazda Lead Asian Brands’ U.S. Gains
Summary: It looks like hybrids have outgrown their niche britches, thanks to Toyota’s Prius. Even though its tax-credit benefits are shrinking, sales continue apace.
"Market share for U.S.-based General Motors Corp., Ford Motor Co. and DaimlerChrysler AG’s Chrysler fell to 51.6 percent from 55.2 percent a year earlier on lower sales of light trucks and after GM and Ford cut sales to rental fleets.
"Toyota, Japan’s largest automaker, sold 242,675 vehicles in March, an increase from 217,286 a year earlier, the company said. The company sold a record 19,156 of its Prius hybrid and demand for the redesigned Tundra pickup, released in February, rose 12 percent to 13,196."
Yesterday, Detroit was losing to Asia in the race to build greener transportation. Today it’s lost market share to those Asian makers of more efficient autos. Maybe someone should be connecting these dots.