Ford and GM continues to lose market share to Japanese automakers

The top two North American automobile manufacturers General Motors and Ford Motors have both reported falling sales for the month of February 2006. According to the U.S. sales figures released on Wednesday, both these companies managed to lost more market share to the Japanese auto giants Toyota, Honda, and Nissan.

However, Toyota itself did not do much better and managed to record just around 2.4 percent gain in sales for the month of February. GM’s overall U.S. sales were down by around 2.5 percent while Ford reported sales falling down by around 3%.

Chrysler though was an exception beating their counterparts in the US market by gaining sales by around 3%. Honda was the highlight of the season with their new Honda Civic doing extraordinarily well in the US market. The company reported impressive sales growth of 8.7 percent. Honda Civic alone accounted for almost one in four vehicles sold.

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