Move over, Detroit.
For the first time, the big three automakers have captured less than 50% of their home market- signaling the end of Motown as the center of the automotive world.
Gas prices, slumping economical factors and weakness in auto sales allowed GM, Ford and Chrysler to sell just 48.4% of the combined vehicles bought by U.S. consumers in July.
"It's a watershed event," said John Casesa, an industry observer and managing partner of Casesa Shapiro Group in New York. "It's a clear signpost that the domestic industry needs to be restructured immediately."
He suggests that the big three need to extend their repair efforts beyond massive job cuts and plant closings to a larger level, addressing vehicle design, the global scope of operations and their relationships with labor unions.
For the first time, the big three automakers have captured less than 50% of their home market- signaling the end of Motown as the center of the automotive world.
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Gas prices, slumping economical factors and weakness in auto sales allowed GM, Ford and Chrysler to sell just 48.4% of the combined vehicles bought by U.S. consumers in July.
"It's a watershed event," said John Casesa, an industry observer and managing partner of Casesa Shapiro Group in New York. "It's a clear signpost that the domestic industry needs to be restructured immediately."
He suggests that the big three need to extend their repair efforts beyond massive job cuts and plant closings to a larger level, addressing vehicle design, the global scope of operations and their relationships with labor unions.