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| Version 1 | Version 2 |
|---|---|
| US carmakers losing out to rivals | US carmakers losing out to rivals |
| (about 3 hours later) | |
| The "Big Three" US carmakers have continued to lose ground against their Asian rivals. | The "Big Three" US carmakers have continued to lose ground against their Asian rivals. |
| Ford, General Motors (GM) and Chrysler have all reported a drop in car sales during 2006 - Ford sales fell 8%, GM dropped 8.7% and Chrysler slid 5%. | Ford, General Motors (GM) and Chrysler have all reported a drop in car sales during 2006 - Ford sales fell 8%, GM dropped 8.7% and Chrysler slid 5%. |
| By contrast both Japanese carmakers Toyota and Honda posted a rise in annual of 12.9% and 3.5% respectively. | By contrast both Japanese carmakers Toyota and Honda posted a rise in annual of 12.9% and 3.5% respectively. |
| Rising petrol prices have boosted Asian firms in recent years as buyers opt for more fuel efficient vehicles. | Rising petrol prices have boosted Asian firms in recent years as buyers opt for more fuel efficient vehicles. |
| Most US carmakers have suffered from the decline in demand for so-called "gas-guzzling" Sports Utility Vehicles (SUVs) and trucks. | Most US carmakers have suffered from the decline in demand for so-called "gas-guzzling" Sports Utility Vehicles (SUVs) and trucks. |
| Truck sales hit | Truck sales hit |
| December sales at GM were worse than forecast - dropping 13% on the month - and led by a 19% fall in truck sales. Car sales fell 1.6%. | December sales at GM were worse than forecast - dropping 13% on the month - and led by a 19% fall in truck sales. Car sales fell 1.6%. |
| US ANNUAL CAR SALES* FORD - 2.9m vehicles, down 8%GM - 4m, down 8.7%CHRYSLER - 2.4m, down 5%TOYOTA - 2.5m, up 12.9% | US ANNUAL CAR SALES* FORD - 2.9m vehicles, down 8%GM - 4m, down 8.7%CHRYSLER - 2.4m, down 5%TOYOTA - 2.5m, up 12.9% |
| Ford itself said car sales had risen in December, as Americans switched to smaller, more efficient vehicles, while truck sales were down 14% compared with December 2005. | Ford itself said car sales had risen in December, as Americans switched to smaller, more efficient vehicles, while truck sales were down 14% compared with December 2005. |
| The company blamed rising fuel prices and a soft housing market for poor truck sales. | The company blamed rising fuel prices and a soft housing market for poor truck sales. |
| However, Ford has held onto its position as number two US seller ahead of Toyota. | However, Ford has held onto its position as number two US seller ahead of Toyota. |
| Rising star | Rising star |
| Toyota, which has already overtaken Ford in the world market, is widely expected to take GM's crown as the world's leading automaker in 2007. | Toyota, which has already overtaken Ford in the world market, is widely expected to take GM's crown as the world's leading automaker in 2007. |
| Industry experts widely expect the Asian firm to overtake Ford in the US domestic market during the year as well. | |
| Falling US sales have prompted Ford and GM to embark on huge restructuring drives in an effort to boost profitability. | Falling US sales have prompted Ford and GM to embark on huge restructuring drives in an effort to boost profitability. |
| GM has plans to cut 30,000 jobs, close several factories by 2008 and sold off a majority stake in its GMAC finance unit as it battles to cut its losses. Ford meanwhile is set to cut around 38,000 jobs | GM has plans to cut 30,000 jobs, close several factories by 2008 and sold off a majority stake in its GMAC finance unit as it battles to cut its losses. Ford meanwhile is set to cut around 38,000 jobs |
| Toyota, meanwhile, has announced plans to build six more factories around the world by the end of the decade. | Toyota, meanwhile, has announced plans to build six more factories around the world by the end of the decade. |