I found this article in the Sydney Morning Herald about the critical situation in Detroit, MI related to the car industry breakdown, the uncertainty about what is coming up, and the expectation from the auto-show taking place in Motown which started on Monday.
Within a year, Detroit car production decreased by 21% in comparison to 2008. The city is now facing an unemployment rate that reaches 25%. The “big three” (Chrysler, GM and Ford) gave way to “Detroit Three”, and all of them are hoping for sales to go back up in 2010.
Nowadays, Detroit automaker are not only facing the bad economic situation, but also have to deal with a fierce competition with Asian car producers and also have to manage the threat of the oil-price rising tendency.
To do so and avoid facing new lost of its market share, the Detroit Three will have to cut their product range and focus on the smaller car segment. But what really give new hopes to the car manufacturers is the development and commercialization of new fuel efficient vehicles.
Within a year, Detroit car production decreased by 21% in comparison to 2008. The city is now facing an unemployment rate that reaches 25%. The “big three” (Chrysler, GM and Ford) gave way to “Detroit Three”, and all of them are hoping for sales to go back up in 2010.
Nowadays, Detroit automaker are not only facing the bad economic situation, but also have to deal with a fierce competition with Asian car producers and also have to manage the threat of the oil-price rising tendency.
To do so and avoid facing new lost of its market share, the Detroit Three will have to cut their product range and focus on the smaller car segment. But what really give new hopes to the car manufacturers is the development and commercialization of new fuel efficient vehicles.
No comments:
Post a Comment