Detroit's automakers, after steadily losing new sedan, coupe and station wagon sales are ready to fight back, according to the Detroit News
On Aug. 14, General Motors Corp. said it plans to invest $500 million to modernize an aging Lordstown, Ohio, factory to introduce a new line of snazzy small cars starting in late 2004. Ford Motor Co. has promised a raft of new products -- including a large Ford Five Hundred sedan -- to bolster its aging car lineup. And DaimlerChrysler AG's Chrysler unit, which lags behind Toyota Motor Corp. and Honda Motor Co. in U.S. car sales, plans bold moves, including a return to rear-wheel drive large sedans that appeal to enthusiasts.
Passenger car sales have lost ground to trucks in recent years, but they still represent 49 percent of all vehicles sold in the United States -- a huge market of 8 million units or more that the Big Three can't afford to give up, according to the News