| 23 January |
The auto collapse’s ripple effects |
As Detroit’s Big Three automakers fight for survival, thousands of small suppliers are caught in their economic wake, struggling to adapt to a shrinking industry.
Archive for January, 2009
As Detroit’s Big Three automakers fight for survival, thousands of small suppliers are caught in their economic wake, struggling to adapt to a shrinking industry.
Hundreds of auto-parts suppliers, companies that make all the things that go into new cars, could fail this year leading to industry disruptions and big job losses.
Chrysler LLC, which suffered a 30% drop in sales last year, announced a massive new incentive program to move vehicles off dealers’ lots.
Read full story for latest details.
“Fiat Saves Chrysler” read the headline on one popular Detroit blog. At first glance, it seemed like a reasonable claim.
General Motors lost the title of world’s largest automaker to rival Toyota Motor in 2008, according to sales figures released Wednesday by the troubled U.S. automaker. It was the first time in nearly 80 years that GM did not sell the most cars in the world.
For now, the most important thing for Chrysler about its alliance with Fiat may simply be that the automaker will be publicly seen as doing something to help itself.
General Motors and Chrysler LLC have four weeks to win deep concessions from unions and creditors to prove they are viable, or they risk losing the $17.4 billion in government loans that are keeping them from bankruptcy.
Read full story for latest details. |