Arab Today, arab today the car industry hits the brakes
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

The car industry hits the brakes

Arab Today, arab today

Arab Today, arab today The car industry hits the brakes

Detroit - AFP

The auto industry is one of the hardest-hit victims of the global financial crisis. Tens of thousands of jobs are at stake worldwide. Detroit\'s once-mighty GM is on the brink of collapse, while in France, Renault employees fear job cuts. From the US to Asia, and everywhere in between, the auto market is floundering. Several factors have contributed to the industry\'s plight: the petrol price hike in the summer of 2008, the credit crunch, declining consumer confidence, the increasing cost of materials, and new environmental standards – all of which entail an overall rise in production costs. But for Detroit\'s \"Big Three\", which have shed a total of 150,000 jobs since 2005, the roots of the decline run back almost a generation. Following the oil crises of 1973 and 1979, Japanese auto manufacturers took the US market by storm with more reliable and fuel-efficient models. Soon, Toyota had become the number-two selling auto brand in the US. Detroit manufacturers were slow to rein in spiralling costs. After much bargaining with trade unions, cost-cutting deals were finally fleshed out in 2006, though they are unlikely to see any effects on the bottom line before 2010. Nor will US carmakers be in a position to meet market demands for more fuel-efficient cars before then.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today the car industry hits the brakes Arab Today, arab today the car industry hits the brakes

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today the car industry hits the brakes Arab Today, arab today the car industry hits the brakes

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday