Search results
Results From The WOW.Com Content Network
The 2008–2010 automotive industry crisis formed part of the 2007–2008 financial crisis and the resulting Great Recession.The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry.
A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009. Following dramatic drops in automobile sales throughout 2008, two of the " Big Three " U.S. automakers – General Motors (GM), and Chrysler ...
The auto industry argued that loan guarantees and other help would try to save tens of thousands of Canadian jobs threatened by the sudden drop in North American car sales. Chrysler Canada has asked for $1 billion in aid, making it the only Canadian arm of the Big Three to make a specific dollar request.
The entire auto industry felt the pain of the recession -- U.S. car sales dropped from an average 16 million a year in 2005 to 11 million in 2009. ... In October 2008, a desperate Vikram Pandit ...
General Motors was financially vulnerable before the automotive industry crisis of 2008–2010. In 2005, the company posted a loss of US$10.6 billion (~$15.9 billion in 2023). [17] In 2006, its attempts to obtain U.S. government financing to support its pension liabilities and also to form commercial alliances with Nissan and Renault failed.
Ten years ago, amidst the worst financial crises since the Great Depression, the American auto industry almost died. The "Big Three" U.S. car companies of General Motors, Chrysler, and Ford faced ...
In the midst of the worst automotive industry crisis in a generation, Louisiana Gov. Bobby Jindal is announcing today that a new car company will build an almost one million square-foot plant in ...
The program was promoted as a post-recession stimulus program to boost auto sales (which had declined due to the effects of the 2007–2008 financial crisis, leading to the Great Recession and 2008–2010 automotive industry crisis) while putting more fuel-efficient vehicles on the roadways.