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GM likely to maintain U.S. market share in 2013, report says

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GM likely to maintain U.S. market share in 2013, report says

GM is likely to maintain its position in the U.S. in 2013 after its market share dropped to the lowest point since 1924.

That was the first full year of Alfred P. Sloan at the helm of General Motors. Fast forward to 2013 and GM may end this year with 17.9 market share in the U.S., in line with 2012 results, according to a Bloomberg survey of five analysts.

GM rose to 51 percent of the U.S. market in 1962 and held 31 percent as recently as 1997. In 2012, GM lost 1.7 percentage points, the most in the industry. However, analysts project no similar moves this year.

“GM recognizes like all the major manufacturers do that we’re in a market where no one automaker is going to sit with 25 or 30 percent market share. A consumer can walk into a showroom at any of these major manufacturers and pick up something that’s generally going to be comparable to the best in the industry,” Alec Gutierrez, an analyst for researcher Kelley Blue Book told Bloomberg.

A stabilization in GM’s market share, which has declined for nine of the past 10 years, would be good news for investors after the stock last week reached its highest level in more than 17 months. Rising share prices would also help the U.S. Treasury, which pledged in December to sell its 500 million shares in the following 15 months.

by Dan Mihalascu (my Google+) - Tuesday, January 8th, 2013 - filed under General Motors, Industry, News. Image credit: .
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