Asian carmakers besting US rivals at home, China poised to strike
Summary
Asian automakers are gaining ground in the U.S. market while Detroit’s Big Three lose share, with Toyota closing in on GM and Hyundai-Kia outperforming Ford. The article also warns that Chinese carmakers could reshape the market if trade barriers are relaxed, triggering strong opposition from industry lobbyists.
Key Points
- Asian brands are expected to take more than half of U.S. new vehicle sales in the third quarter, while the Big Three’s market share falls to a record low.
- Toyota is narrowing the gap with GM, and Hyundai-Kia is outperforming Ford as consumer demand shifts toward hybrids.
- President Donald Trump has floated allowing Chinese cars into the U.S. only if manufacturers build factories and hire American workers.
- U.S. auto lobby groups are urging a permanent ban on Chinese cars, citing national security and data-security concerns.
