DETROIT, July 6 (UPI) -- Ominous industry predictions have the Big 3 U.S. automakers' share of their domestic market falling below half for the first time.
With General Motors, Ford and Chrysler opting for scaling back and making a profit over concentrating on market share, USA Today reported Friday, industry analysts predict a mid-40s share, perhaps within months.
David Cole, chairman of the Center for Automotive Research, said he believes the automakers will control eventually about 40 percent of the market, continuing to slide "until they get their costs in line with the competition."
The U.S. companies had a domestic market share of 50.2 percent in June, down from a high of 81 percent in April 1984 and 56.1 a year ago, research firm Autodata showed.
Instead of inflating their market shares by offering fire-sale prices and pumping massive numbers of vehicles into unprofitable rental fleets, the U.S. automakers are scaling back and focusing on making a profit, USA Today said.
