I think GM and Ford have made vast improvements, but:
The American companies, to truly succeed, need to start putting their stock in efficient vehicles, now. Start working out how you are going to bring diesel and other efficient technologies here. As fuel prices rise, and the value of the dollar sinks, plus CAFE regs take effect, fuel efficiency is going to be the most important thing.
MPG sells. Practically every time I've ever checked our '05 CR-V AWD, it's averaged 28 MPG. Best tank, 30 MPG, worst tank 26. 28 is the general rule. Prior to this, we owned an '03 Explorer 4X4. It averaged 17 MPG; it's best tank was 17.7 and it's worst was 15.
The CR-V seats everyone much more comfortably, and it's remarkably more refined as far as ride, noise, etcetera, go. Plus, with just the latter part of the 60/40 rear seat folded down, I can fit two 15" speakers, my power amp, bass amp, microphones, mic stands, speaker stands, instrument stands, cables, CD boxes, guitar, mandolin, fiddle, and still seat three or four comfortably. All while getting 28 MPG. If I folded the whole backseat down, I could fit much more yet and still have room for two.
The only thing better for me as a person who needs the "utility" aspect of a "sport utility" is the diesel CR-V sold in Europe. It gets around 50 MPG. Just to point this out; the Ford Explorer was the best selling SUV for 15 years. The CR-V took over that title last year, and the Ford slipped quite far down on the list.
To continue, our Yaris hatchback, which averages about 38 MPG (it has the automatic transmission), can fit everything I listed above excluding the 15" speakers and still seat two very comfortably. Again, only thing better would be a diesel version, which I'm confident would achieve at least the upper 50's for MPG.
As carheads, we're all excited about the G8, Mustang, Challenger and Camaro. Enthusiasts cry out for a big new, RWD Ford. But lets be honest. That's just about the worst thing they could do right now.
Name one car that GM or Ford sells that gets over 35 MPG.
You can't. The Focus gets 35 MPG on the nose, and the Aveo doesn't even get that much. Bring over the Ka, Fiesta, Euro Focus, S-Max, the Corsa, Vectra, Agila, Zafira...
THEN we'll talk performance cars. We have to be realistic here.