GM’s market share takes a dramatic hit

General Motors’ U.S. market share dropped dramtically, falling below 20 per cent in the wake of gasoline hitting US$4 gasoline and the Big Three auto makers dipping into a minority share of the U.S. market in May.<br>
The 44.4 per cent share not only was one of the worst dips General Motors (GM), Ford and Chrysler had to suffer, but it was also less than 2 percentage points ahead of the Japanese brands. According to published figures, Japanese brands gained 5.7 percentage points to finish May with a 42.5 per cent share of light vehicles.<br>
Also in May, GM’s U.S. market share fell below 20 per cent for the first time since the automaker was formed in 1908. As well, GM’s U.S. sales lead over Japanese automaker Toyota narrowed dramatically as consumers buyers moved to small and compact cars in the wake of soaring gasoline prices.