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apanese and South Korean automakers registered the biggest market share gains in the U.S. government's "cash for clunkers" program that ended this week with bankruptcy related inventory shortages hurting General Motors Co GM.UL and Chrysler.
Toyota Motor Corp (7203.T) Honda Motor Co Ltd (7267.T), Nissan Motor Co Ltd (7201.T), Hyundai Motor Co (005380.KS) capitalized on the program's goal of pushing consumers away from gas guzzling sport utilities and pickups, to more efficient cars and trucks, preliminary sales figures showed on Wednesday.
Overseas manufacturers dominate in car sales, while U.S. companies have been stronger in the light truck segment. Cars outsold trucks 2-1 under the "clunker" initiative.
Ford Motor Co (F.N) was the only domestic manufacturer to hold its own in market share compared with its performance so far this year, while GM slipped and Chrysler stumbled noticeably.
Originally posted by carewemust
reply to post by Irma
Perhaps the $3,500 credit should
have been for foreign cars and the $4,500 for domestic cars. That
would have helped the American economy more. Sending almost half
of U.S. taxpayers dollars overseas wasn't a very responsible thing for
OUR government to do.