You can start on the car lot. Last month, for the first time, Toyota out-sold Ford in the USA, Honda out-sold Daimler-Chrysler, and the Toyota Camry was the best-selling car in America.
Detroit is hanging on by only two percent to its majority of domestic auto sales. And by the end of this year, most analysts predict Toyota will overtake GM as Number One in worldwide sales. Ford F-series pickup truck sales were down 43 percent last month, and Ford Explorers were down 50 percent.
Ford is talking about selling off parts of itself. GM is talking merger. It's been rough for a long time in Detroit. Now, it's rough and radical.
Is the US auto industry down the tubes or retrenching for a comeback?
Micheline Maynard, New York Times reporter and author of the books "The End of Detroit" and "Collision Course: Inside the Battle for General Motors"
Peter Morici, professor of international business at the University of Maryland
Walter McManus, Director of Automotive Analysis at the University of Michigan's Transportation Research Institute and former executive director of forecasting analysis with JD Power and Associates, a marketing information firm
Paul Ruben, co-chair of the GM National Dealer Council
This program aired on August 9, 2006.