Detroit automakers lose US market share
Detroit automakers face declining US market share as soaring gasoline prices drive consumers toward fuel-efficient Asian hybrids. Cox Automotive forecasts Asian brands will capture over half of sales.
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GENERAL MOTORS CO and domestic peers face a combined market share drop to 36% in the United States for the third quarter. Asian competitors are capturing over half of new vehicle sales. Surging gasoline prices are driving the shift toward hybrids.
