During the past two weeks, General Motors reported a $15.5 billion quarterly loss (including special items), following Ford Motor's $8.7 billion loss the week before. I shudder to think how bad it is at Chrysler. Auto execs claim they were giving Americans the products they wanted. Really? For proof to the contrary, look at their U.S. market shares, which are slumping to historically low levels as Japanese auto makers gain ground. In a recent meeting with Ford executives, CEO Alan Mulally dared to challenge the Detroit gospel that you can't make money on small, fuel-efficient cars. At last Ford appears to be making bold moves to design and sell vehicles that people want. So with Fords EcoBoost and Verve at least there is some promising news from the American auto-industry, but is it too late?
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