Autos: Uphill All the Way

After the worst automobile sales slump in a decade, in which the Big Three automakers collectively lost $7.4 billion over 4 quarters, car buyers are slowly returning to showrooms. As a result, US car and light-truck sales have been increasing. J. D. Power & Associates predicts unit sales for 1991 will hit 12.6 million, a recovery from disastrous levels during the Persian Gulf War but still below 1990's 13.9 million. With a number of new models coming out, General Motors Corp. may be able to hold or slightly increase its market share, but Ford Motor Co. and Chrysler have few new products to get buyers excited. Together, Ford and Chrysler have lost 1.1 market share points to Japanese rivals since January 1991. A sluggish market will make it hard to stop the erosion. Most analysts expect Japanese companies, which now have about 1/4 of the market, to gain 2 points a year through 1993.