New York – Major U.S. automakers have watched their domestic market share shrink even more thanks to their Asian competitors — a situation that may worsen if Chinese firms are able to enter the U.S. market, an idea floated by President Donald Trump.
“The broader market story continues to be the growing (sales), and mostly on the strength of Asian automakers,” said Charlie Chesbrough, a senior economist at Cox Automotive.
The analyst said that Asian brands are expected to account for more than half of U.S. new vehicle sales in the third quarter, for the second quarter in a row, “approaching record-high market share levels.”
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