US car executives cannot keep bragging about how well they will do in Asia. GM is now saying it believes it can raise its share in the region from 6.5% to 10% by 2010.Those looking for a reason for the optimism won’t find any. GM makes the statment but has nothing to back it up.What GM wants Wall St. to believe that cars and small trucks that are bested by vehicles from Toyota and Honda in the US market will do better overseas. Toyota, Honda, VW, Nissan, Ford, Daimler and a pack of other companies want the share as much as GM does.In 1995, GM’s US share was nearly 33%. By 2005, it had fallen to just above 26%. And, Toyota is still gaining share in GM’s home market.Asia, of course, will be different. There GM’s models will level Toyota, Honda, and local car company offerings.When pigs fly.Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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