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Automobile industry

Detroit Automakers Face Steep Climb in Market Share Competition

Strategic Insights

— 1 min read

Despite posting better December sales figures, the Big Three automakers - General Motors Corp., DaimlerChrysler AG's Chrysler Group, and Ford Motor Co. - collectively lost footing in the marketplace last year. According to the latest industrywide figures, General Motors Corp. saw a 2.2% decline in sales, while DaimlerChrysler AG and Ford Motor Co. experienced drops of 3% and 3.9%, respectively. This decline resulted in a slip in market share for each of the automakers, with General Motors falling from 28.7% to 28.3%, DaimlerChrysler from 14.4% to 14.1%, and Ford from 21.5% to 20.8%.

Key Takeaways:

  • General Motors Corp. saw a 2.2% decline in sales last year, while DaimlerChrysler AG and Ford Motor Co. experienced drops of 3% and 3.9%, respectively.
  • All three Detroit-based automakers lost market share, with General Motors slipping from 28.7% to 28.3%, DaimlerChrysler from 14.4% to 14.1%, and Ford from 21.5% to 20.8%.
  • Luxury brands Porsche, Maserati, and Ferrari led the charge with sales gains of over 10%, while mass-market producers Honda, Nissan, and Toyota picked up market share with year-over-year gains of 8.2%, 7.4%, and 6.3%, respectively.
  • Honda had the biggest year-over-year gain among mass-market producers, with sales increasing by 8.2%.
  • The Cadillac brand is making important sales gains on Mercedes-Benz, finishing the year with 216,090 cars and trucks sold compared to Mercedes' 218,717.
  • Ford's decline came despite the success of the new F-Series pickup truck, which was the biggest truck story of the year and saw sales increase by 4%.

Statistics:

  • 3.9% decline in sales for Ford Motor Co.
  • 3% decline in sales for DaimlerChrysler AG
  • 2.2% decline in sales for General Motors Corp.
  • 28.3% market share for General Motors Corp.
  • 14.1% market share for DaimlerChrysler AG
  • 20.8% market share for Ford Motor Co.
  • 16.7 million vehicles sold in 2003, a 1% decrease from 2002.
  • $216,090 cars and trucks sold by the Cadillac brand
  • $218,717 cars and trucks sold by Mercedes-Benz

Sources:

  • Detroit Free Press
  • General Motors Corp.
  • DaimlerChrysler AG
  • Ford Motor Co.
  • Motor Trend magazine
  • North American International Auto Show in Detroit

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