Posts Tagged ‘Slump’
GM, Chrysler merger could mean job losses, plant closings; Analysis by David Cole of Center for Automotive Research
The number of new car sales dropped by a fifth in December, says Nikki Rooke from The Society of Motor Manufacturers and Traders.
Three major automakers are asking California’s Port of Long Beach for more storage space for their freshly imported cars. The AP’s John Mone reports on why this back up is bad news. (Nov. 21)
Car sales are down and many experts are blaming the lagging housing market.
“People don’t want to spend any money with the housing market slowing down. There’s no money coming in. There’s no money for them to spend, so we’re seeing it. We’re seeing these people who were buying, 4, 5, 6 vehicles a year for their company, are not buying any vehicles. Everybody is on a freeze right now,” Corey Argentino of Sunstate Ford said.
Sunstate Ford said they survive because of loyal customers.