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[quote] U.S. Auto Shows Reflect Industry Doldrums
Manufacturers lacked significant new cars this year but remain upbeat as they promote products aimed at elevating the industry.
by Dee-Ann Durbin, Associated Press
Jim Press, Chrysler's vice chairman and president
Chrysler President Jim Press
NEW YORK — Manufacturers were short on new cars at this year's major U.S. auto shows, including the New York International Auto Show this week, but automakers remained upbeat as they showed products they hope will lift the U.S. industry out of its doldrums.

U.S. auto sales are expected to hit their lowest level in at least a decade in 2008, and talk about the economy dominated this year's shows.

'The market is a headwind. We're in choppy waters,' Chrysler Vice Chairman and President Jim Press told reporters in New York. 'But the great thing is that it affects everybody. It rains on all sides of the street.'

Vehicles unveiled at auto shows in Detroit, Chicago, Los Angeles, and New York have been in the making for many months and even years, but several automakers predicted an upswing in the second half of 2008 as consumer confidence improves.

In the meantime, facing slower sales and tighter budgets, they are putting out fewer fantastic concept vehicles and focusing their product development resources on vehicles that are more likely to be built, according to Jack Nerad, executive market analyst for Irvine, Calif.-based Kelley Blue Book.

Just weeks after showing its Ford Verve as a concept in Detroit, for example, Ford confirmed that the subcompact — now called the Fiesta — will hit U.S. shores in 2010.

'When times aren't flush, the faucet is turned off on out-there concept cars,' Nerad said.

Hyundai Genesis Coupe
Hyundai Genesis Coupe

One way automakers are trying to raise profits is by competing in new segments. Hyundai introduced its first luxury sedan, the Genesis, in Detroit in January and its first performance-oriented sports car, the Genesis Coupe, in New York. Kia showed its first mid-size sport utility vehicle, the Borrego, in Detroit. General Motors is inventing a whole new segment with its Pontiac G8 Sport Truck, a two-door with a six-foot bed that's reminiscent of the Chevrolet El Camino.

But new models were generally in short supply. After an influx of introductions in Detroit, including the 2009 Ford F-150 and Dodge Ram pickups and 2009 Toyota Venza crossover, most automakers seemed to have little left over. Toyota unveiled no new products at the Chicago auto show in February and introduced only a Scion concept in New York. Chrysler got some extra mileage from its Dodge Challenger muscle car, introducing the 2008 model in Chicago and the 2009 model in New York.

Aaron Bragman, an auto analyst with Global Insight, said new products could be in short supply in the next few years as automakers try to figure out how to meet new fuel economy standards that will require a fleet average of 35 miles per gallon by 2020.

'People are still gearing up and trying to figure out what they need to do,' he said.

GM was one of few automakers with a constant product offensive at the U.S. shows, Nerad said. The automaker produced strong buzz in Detroit with its elegant Cadillac CTS sedan and concept coupe, introduced the hybrid GMC Sierra hybrid pickup in Chicago, and unveiled three new performance-oriented Pontiacs in New York, including the sport truck and a hardtop version of its Solstice convertible.

Pontiac Solstice Coupe
Pontiac Solstice Coupe

[b]The rear-wheel-drive, performance-oriented Pontiacs might seem out of touch in an era of high fuel prices, but analysts said there is still a substantial market in the U.S. for those and other high-performance vehicles that got top billing at this year's shows, like the Challenger and the Genesis Coupe.

'That type of car isn't someone's only car, and it's not marketed to 21-year-olds who are worried abo