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AUTOMAKERS' CRISIS * USA - Auto Industry Needs Nearly $100 Billion to Survive
Should They Get it?
Detroit,MICH,USA -The Detroit Free Press/GM Volt -February 19, 2009: ... The total sum requested or received by GM and Chrysler so far is $39 billion. The retooling loans, still not dispersed another $25 billion, and there is a request for $25.5 billion from suppliers. Adding in other money the reporter came up with $97.4 billion... This is quite possibly not the end either. After all Ford has yet to ask for money, and if car sales plunge further, more money will be needed... Alternatively GM and Chrysler say finacing their bankruptcies would cost the government $125 billion... The President’s Task Force on Autos led by Timothy Geithner is planning to meet later this week to review GM and Chrysler’s plans... Yes we want our Volts, and yes we must get this country off of oil, but at what cost? Are there any alternatives?* Japan - Toyota Leads Drop in Japan’s Car Sales on Recession
Tokyo,Japan -Bloomberg, by Naoko Fujimura -June 1, 2009: -- Toyota Motor Corp., Japan’s largest automaker, led a 19 percent drop in the country’s vehicle sales last month, as falling wages and rising unemployment discouraged customers from visiting showrooms... Sales of cars, trucks and buses, excluding minicars, fell to 178,503 vehicles, the Japan Automobile Dealers Association said in a statement today. Toyota sold 80,503 units excluding Lexus brand cars, down 24 percent. Honda Motor Co., the country’s second-largest automaker, posted a 4.5 percent gain, and No. 3 Nissan Motor Co. sold 9.1 percent fewer units...
Labels: automakers' crisis
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