Detroit 3 are looking more promising to industry executives, report says

Article by Christian A., on January 7, 2011

The Detroit 3 (General Motors Co., Ford Motor Co. and Chrysler), after two of the worst years in U.S. auto industry history, now appear more promising to industry executives worldwide. The annual opinion survey by auditing and tax consulting firm KPMG LLP gauges the opinions of 200 industry leaders in Europe, Asia and North America.

KPMG's new survey found out that 43 percent of those who answered the survey believe that Ford's market share will rise over the next five years, compared to just 29 percent of those surveyed in last year.

KPMG found out last year that 13 percent of the industry executives surveyed believed GM would see an increase in market share. But this year, about 40 percent of the executives forecast a rise in GM share. The KPMG survey says 24 percent now predict a rise in Chrysler market share, up from 7.5 percent last year.

Gary Silber, national auto industry leader for KPMG in Chicago, said the change in global perception is what is most significant. Perceptions matter in the auto industry, since they influence decisions on supplier agreements, finance and dealer commitments.

GM, which had filed for bankruptcy in 2009, recently executed a public stock offering that generated $23 billion in new funds. [via autonews - sub. required]

Topics: gm, ford, chrysler

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