Word: carful
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Toyota's (TM) share of the U.S. light vehicle market is 18% and Honda's (HMC) is 10%. GM's (GM) share of its home market is about 22%. Fifty-five years ago, the No.1 U.S. car company had 54% of the U.S. market. By this time next year, GM's piece of the American car pie could drop another 50%, bringing it closer to Honda...
...Consumer Reports survey shows that 78% of people polled are unlikely to buy a car from a bankrupt car company. Nearly two-thirds said they were highly unlikely to make a purchase under those circumstances. Another recent study by market research firm CNW polled consumers who plan to buy a new car within six months. More than 8o% of the respondents said they would switch brands if the vehicle they wanted came from an automaker that went bankrupt. A third survey, this one from Rasmussen, showed that 51% of consumer said they would not buy a car from a manufacturer...
...government has gone so far as to say that it will guarantee warranties on GM and Chrysler cars. To quote the President directly "Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always. Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty." Unfortunately, many people don't understand what it means for the government to back a warranty...
...Toyota has played a long waiting game. It played well. It made better cars than U.S. companies. It kept labor costs low. It built a reputation for durable and dependable products. The Japanese car company is being hurt by the global car sales downturn, but it never had the labor cost or corporate debt problems that plagued GM. It has the balance sheet to make it through the crisis. Maybe Toyota has been lucky for decades or maybe Toyota was just smart. (Vote for the 2009 TIME 100 Finalists...
...Whether it is due to wits or good fortune, Toyota will become the No.1 car company in the U.S. sometime in the next year, and an American car operation will never hold that position again...