McClarys
+1y
this was an interesting article that sums up alot...
"
* Business
* Automotive industry
How Detroit took the wrong road
* Ben Quinn
* guardian.co.uk, Friday November 21 2008 00.01 GMT
* The Guardian, Friday November 21 2008
* Article history
The once mighty US car industry had been in decline long before the financial crisis led to the evaporation of car loans which had enabled customers to purchase new vehicles.
Over the years, US manufacturers had been losing headway to Japanese rivals as motorists' tastes shifted from pickup trucks and sports utility vehicles to smaller, more fuel-efficient cars.
Since 2006, the Big Three Detroit-based manufacturers - General Motors, Ford and Chrysler - have cut more than 100,000 jobs.
As well as failing to keep up with what their customers want and the economic downturn, the car companies have been footing the bill for the pensions and healthcare costs of many former workers on top of paying the salaries of existing employees.
Analysts charge the companies with being slow to respond to the invasion of Japanese, Korean and other Asian carmakers who have been offering US motorists more sophisticated vehicles since the 1980s.
The US firms responded by often rolling out heavier cars and pickup trucks in a strategy that would leave them exposed in the long-term as sales of more environmentally friendly vehicles took off."
theres more in the news on the net ...
so seems to me , this is not just a problem that just happened... they been declining for years... but have not keep up with what people really want or predict what would be needed in the future....
i hear Japan has whole line of electric cars that will be coming out next year or so....
to me sounds like it all boils down to bad management on there part...