The Auto Industry’s 5 Largest U.S. Market Share Shifts In 2013
The strength of the U.S. auto market is often used as a barometer for the economy at large. When sales are bad, as they were in the wake of the financial crisis, the economy is usually doing poorly — when sales are good, as they were in 2013, the economy is usually doing well. Total light vehicle sales increased 7.6 percent in 2013, finishing just above 15.6 million. It was the best sales year in six years, born on the back of relatively cheap credit and an increasingly healthy and confident consumer.
A rising tide, though, doesn’t necessarily lift all boats equally. Behind the headline number are the major auto makers that participate in the U.S. market, some of which gained market share in 2013 and some of which lost market share. The largest players in this arena are General Motors (NYSE:GM), with 17.9 percent market share, Ford (NYSE:F), with 15.9 percent market share, Chrysler, with 11.5 percent market share, and Toyota (NYSE:TM), with 14.3 percent market share.
As a group, the Detroit Three only gained about 0.5 percent additional market share in 2013, while Toyota’s share actually declined 0.1 percent, but many companies make up the U.S. auto market and experienced shifts in 2013. Here are the five automakers that experienced the largest shifts in their claim to the U.S. market.