WASHINGTON -- The U.S. market shares of General Motors and Ford Motor Co. have not bottomed out, says Kathleen Ligocki, CEO of Tower Automotive Inc.
Ligocki is not alone in that view. But unlike many others, she attached numbers to her forecast. On Friday she told a conference of the American Bankruptcy Institute here that GM will level off at about 20 percent and Ford at about 14 percent. Their shares already have fallen dramatically - to less than 24 percent for GM and less than 18 percent for Ford.
In a keynote speech on U.S. manufacturers' problems, Ligocki said the industry will survive but will be transformed by a "tsunami" of change now unfolding. Her own company, a Tier 1 supplier of frames, suspensions and body structures, has been reorganizing under Chapter 11 bankruptcy protection since February 2005.
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