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\ABS\Auto Blog Samurai\data\insurance\wwwallstatecom\volkswagen+has+its+eyes+on+taking+a+bigger+share+of+the+u+s+market_16000325_800738768_0_0_7011917_300.jpg "Volkswagen has its eyes on taking a bigger share of the U.S. market.")
A decline in automobile sales in the United States during the past year for Honda has led rival Volkswagen to take aim at the carmaker's significant share of the American market, according to a report by Reuters*.
During 2011, Honda's U.S. market share dipped 2 percentage points to 8 percent. Sales for the automaker slipped 7 percent last year - a stark contrast compared to the rest of the industry, which saw an overall double-digit rise in vehicle sales.
The drop in sales for Honda in the United States and substantial increases in sales of two of VW's most popular automobiles - the Jetta and Passat - has the carmaker looking to capitalize on what it sees as a chance to boost business.
"The good news for Volkswagen is that brand loyalty is not what it used to be," TrueCar analyst Jesse Toprak told the news source. "Honda buyers started to flee to other brands like Hyundai because they wanted to express themselves and not be just one of the herd."
VW faring better than many other automakers since recession
Compared to several other auto companies that did not fare well during the recession, Reuters notes VW has not suffered any major detriments to its business in the past few years.
For example, General Motors and Toyota have both suffered financial setbacks since 2008. GM needed a federal government bailout to survive and Toyota endured major net losses in operating costs.
However, the news source states VW weathered the storm better than these companies, thanks in large part to strong international sales, which led to a record profit for the automaker in 2011, and maintaining a strong reputation with the car buying public.
*according to Reuters on February 28, 2012
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