Cameron Diaz has one. Leonardo DiCaprio has four.
No, not bad movies -- these celebrities and many other consumers are choosing foreign cars instead of domestic brands, and U.S. automobile makers are fighting to keep the American market from slipping to foreign competition.
This past Labor Day weekend, all three major U.S. car manufacturers -- Ford Motor Company, General Motors (GM) and DaimlerChrysler -- announced either decreased sales or forecasts of a shoddy fourth quarter, according to a recent Consumer Affairs report.
"The Big Three were making high profits due to SUV and pick-up truck sales, and now that the price of gas has gone up and stayed up, profits are starting to go down," Russell Chuderewicz, an economics professor, said. "They realize what they need to do, but there is some lag until they can get that done."
Conversely, Toyota Motor Company, based in Japan, has experienced a rise in profits.
"Total sales this summer were up about 20 percent from last year," said Corey Confer, general manager of Joel Confer Toyota, 120 E. Clinton Ave. "Toyota doesn't have to pay their customers to buy their cars. They offer some incentives and a lower price, and the customer doesn't have to worry about negotiating. Domestic dealers think the public is stupid."
Ford made headlines when it announced Sept. 5 that Bill Ford, its CEO, would step down immediately to be succeeded by Alan Mulally, the former CEO and president of Boeing.
This news came after Ford revised and doubled its 2006 second-quarter losses from $123 to $254 million. It later put one of its premier wings, Aston Martin, up for sale, according to a CNN report.

