Biz Buzz: GM Truck Sales Slide, Airline Losses Mount, and Other Business News

Today's business headlines.

By SHARE

GM Loses Market Share

With light-truck sales dwindling, General Motors' share of the U.S. market is just above 20 percent. The company accounted for almost 30 percent of the market in 2000. As Toyota and Honda continue to gain ground, GM saw a decrease in sales of pickup trucks and sport utility vehicles in the past six months as soaring gas prices and a sluggish economy took their toll. Toyota's market share has climbed from just under 10 percent in 2000 to around 16 percent now. Both GM and rival automaker Ford have slashed truck production for the second half of the year.

U.S. News reports how GM and other carmakers have placed a long-term bet on hydrogen.

Airline Losses Could Be Steep

Airlines are expected to lose as much as $6.1 billion this year as fuel costs rise and strapped consumers travel less. That would be the industry's worst loss since 2003. More than a dozen airlines have gone out of business in the past six months, and some large carriers, like United Airlines, are exploring mergers to cut costs. The airline industry had $5.6 billion in profits in the last fiscal year, the best since the 2001 terrorist attacks.

Liz Wolgemuth questions experts on how airlines could be fixed.

Americans Tap Their 401(k)'s

Americans are increasingly taking money from their nest eggs. As banks clamp down on loans and credit lines are maxed out, many older and middle-class Americans are tapping into their 401(k)'s and other retirement accounts. In 2007, almost 20 percent of workers took out some form of retirement-plan loan, up from 11 percent in 2006.

U.S. News gathers expert advice on how to survive the credit crunch. Also, here's a guide to all aspects of retirement.