The New Big Three

By Jim Frederick/Tokyo

Warning, Detroit: The Asian car companies in your rearview mirror may be closer than they appear. Whereas GM, Ford and DaimlerChrysler posted a record-low monthly U.S. market share of 56.3% in April, Japan's Big Three (Toyota, Honda and Nissan) led Asia's automakers to a record 37.5% share, according to market-research firm Autodata Corp. "The Japanese are moving into new segments [like hybrids and small SUVs], while the Americans are struggling to update their aging product lines," says Nikko Citigroup analyst Andrew Phillips. At the head of the pack: Nissan, with a 32% gain in sales compared with April 2004. --By Jim Frederick/Tokyo