Say Hello to the Big 4
When Spain's GDP surpassed Canada's a few years back, and then Russia pushed the Spaniards out of the way to maintain the position, the G7 countries suddenly expanded to include another and the G8 was formed. Is that what Detroit will have to do now that Toyota has eclipsed Chrysler Group as the number 3 automaker?
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| For years analysts have been speculating on a major move by Toyota, and in August they passed Chrysler to become the number 3 automaker. (Photo: Toyota) |
To be fair, Chrysler Group has only slipped backward for the month of August, September could be an entirely different story. But still, what many auto analysts have been predicting for the last decade has become true, Toyota, the dominant leader in J.D. Powers and Associates owner satisfaction and quality surveys has leapt into major contention, vying for a permanent spot on the podium.
While this is no doubt a dire day for Chrysler execs, who have been challenged enough this year trying to keep up with domestic incentives without going completely broke, Toyota is elated.
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| A 4% drop in overall industry sales since the same period last year and deep dealer incentives have made it a hard year for Chrysler. (Photo: Alexandra Straub, Canadian Auto Press) |
The Japanese automaker, responsible for Toyota, Lexus and Scion brands, the latter in the U.S. only, with an annualized light-duty vehicle sales rate of almost 19 million.
Gary Dilts, DaimlerChrysler Corp's senior vice president of sales stated, "We see a little room for believing the market ahead will be better than last year." Hardly a rosy outlook on the industry as a whole, sparked by a less than optimistic 4 percent drop in overall sales since the same period last year.