U.S. Auto Manufacturers Ford, Chrysler and GM Compete Head-On with Volkswagen, Toyota and Honda

Globally, during 2023, top automobile and light truck sellers included Volkswagen Group with 9.36 million units sold globally and Toyota Motor Corporation with 8.82 million vehicles sold. Stellantis (formerly Fiat Chrysler) sold 6.20 million while Hyundai Group sold 2.44 million. In the U.S. market, GM regained its leadership with a 16.3% market share over Toyota with a 14.2% market share, followed by Ford (12.6%) and Hyundai/Kia (10.4%).

Recent U.S. Car Company History: Control of Chrysler was acquired by Italian car maker Fiat in 2009. In 2021, Fiat Chrysler Automobiles NV merged with the parent company of Peugeot, creating a new company called Stellantis. The firm also owns the highly successful Jeep brand. The other major U.S. automakers, Ford and GM, have gone through their own vast changes. GM took bankruptcy in 2009 and accepted massive federal loans while it restructured. Meanwhile, Ford engineered its own reorganization, without government bailouts and without declaring bankruptcy. The company sold its Jaguar, Volvo and Land Rover brands, and in 2010 closed its Mercury division. Ford also closed several of its production plants and shuttered more than 600 dealerships. By 2011, the company began to radically simplify production by utilizing a small number of basic platforms for all its models (thereby working from the same basic components in plants that utilize the same types of tooling), down from 15 platforms five years earlier.

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U.S. Auto Manufacturers Ford, Chrysler and GM Compete Head-On with Volkswagen, Toyota and Honda, Business and Industry Trends Analysis

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