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Yesterday's doubled-digit gains in
April auto sales
for the Big Three (
) is another indication that the tables have turned in the automobile industry. The Detroit automakers
their U.S. market share by 150 bps to 46.2% in just a year at the expense of Japanese automakers (
). The trend has become so entrenched that Nissan is cutting prices and Toyota is reeling from the realization that its powerhouse Camry is now "boring" to consumers.
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GM employs more Americans than all foreign car companies combine. Please don't think that low wage "assemblers" makes up for the rest of the real work done in Japan. All the parts are built overseas and robots finish the job while people watch. Who did the design on the car? Where are the engineers? Sales Executives. R&D costs billions. Where are the high paying jobs, assembly is cheap. Please don't call a Camry American, because the folks in Japan certainly don't.
May 6 04:04 AM
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