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Auto industry taking a beating
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| Magnetonium |
I would like to express how happy I am to read this. I know that there are people who lost jobs over this, unfortunately, but these vehicles just had to go, sooner or later. Its about time GM takes a massive beating for killing the electric car in the 1990s. They deserved this and worse (diiiiiiiiiiiiiie, GM, diiiiiiiiiiieeeeeeeee):
http://www.theglobeandmail.com/serv...ilTPStory/Focus
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TALKING PICTURES: IMAGES OF THE WORLD THIS WEEK: STALLED MARKET IN HEAVY METAL
July 5, 2008
If there's one thing the auto industry hates, it's deals and discounts - they put a major dent into profits, ride roughshod over brand image, rust out resale values and steer consumers away from snapping up new models as soon as they arrive in favour of waiting for deals and discounts.
But the new reality of the North American auto industry is neatly captured in this scene at a Chrysler dealership in Portland, Ore [image not provided, only for subscribers].
U.S. auto sales hit their lowest point in more than a decade last month, while in Canada, sales of cars and light trucks in June fell 5.7 per cent from the same month last year and were down 13.6 per cent from the previous month. Worst hit has been General Motors, Canada's largest automaker, whose sales plummeted 23.8 per cent from a year ago.
And the fallout has slammed Canadian workers hard - with announcements last month that GM would be closing the truck-assembly plant in Oshawa, Ont., which employs 2,600; that Magna International Inc., Canada's largest auto-parts manufacturer, would be cutting 400 jobs at its plant in St. Thomas, Ont.; and, just this week, that 11 smaller plants that make plastic instrument panels in the Toronto area would close, eliminating another 2,000 jobs.
The reason is hardly a mystery - oil prices hit a record high of $146.69 (U.S.) a barrel on Thursday, which, on top of environmental concerns, is driving consumers toward smaller, more fuel-efficient cars. And those are where the foreign competition tends to excel.
GM, Ford and Chrysler have all announced plans to move toward production of smaller vehicles.
But in the meantime, it's going to take a lot more deals and discounts to get rid of the once-mighty gas-guzzlers.
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| Magnetonium |
| quote: | Originally posted by Shakka
Go Honda go? |
LOL ... naaaah, Hondas are ghey (though more efficient and environmentally friendlier, I suppose (?)), I dont really like any specific cars other than the really environmentally friendly ones. But those ones are typically expensive. Like the one I get to drive on certain days with my job is Ford Hybrid Escape, which is like $30,000 and has a fuel efficiency of about 7-8L/100km.
It appears that the foreign car manufacturers are biggest beneficiaries of the oil debacle. Kinda funny how it went to bite American car companies in the arse at the end. I bet they didnt see that coming. |
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| Shakka |
| My car takes premium unleaded. It's a bitch these days. Though when you think about it, it's really only about $6 more per fill-up (though I know it adds up). At least I don't have a brutal commute. |
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| Clovis |
| Americans are finally being forced into making smart choices. It's really ing great. |
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| Magnetonium |
| quote: | Originally posted by Shakka
My car takes premium unleaded. It's a bitch these days. Though when you think about it, it's really only about $6 more per fill-up (though I know it adds up). At least I don't have a brutal commute. |
Yikes. I was contemplating on getting a car ... but then I thought about the oil prices, and since I am not out of college yet, I figured I'll stick to public transit (which I can tolerate for now, despite its problems such as on-time arrivals).
Instead I spent some money on DJ equipment :tongue2 :eyespop: |
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| Kinezi |
| quote: | Originally posted by Clovis
Americans are finally being forced into making smart choices. It's really ing great. |
Excuse me, but what the are you still doing in PDD? Didnt I just tell you to keep it to COR here?
http://www.tranceaddict.com/forums/...1&forumid=66&s=
Anyways on topic. I think aviation industry is going bust soon too cos of rising oil prices. |
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| Groundhog Boy |
| quote: | Originally posted by Kinezi
Excuse me, but what the are you still doing in PDD? Didnt I just tell you to keep it to COR here?
http://www.tranceaddict.com/forums/...1&forumid=66&s=
Anyways on topic. I think aviation industry is going bust soon too cos of rising oil prices. |
And you think that your opinion on who's here matters? |
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| malek |
| Clovis: smart choice?? You sound like a smart ass hippie right there.:rolleyes: |
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| jerZ07002 |
Some people at my job (who are pretty tight with detroit executives) are convinced that GM, Ford, and Chrysler are heading toward bankruptcy protection to break the union legacy contracts.
* not insider information - just speculation after a round of golf * |
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| Clovis |
| quote: | Originally posted by Kinezi
Excuse me, but what the are you still doing in PDD? Didnt I just tell you to keep it to COR here?
http://www.tranceaddict.com/forums/...1&forumid=66&s=
Anyways on topic. I think aviation industry is going bust soon too cos of rising oil prices. |
Excuse me but do I look like I give a ? |
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| Clovis |
| quote: | Originally posted by malek
Clovis: smart choice?? You sound like a smart ass hippie right there.:rolleyes: |
Yes and?
Truck sales are down, RV sales are down, fuel efficient cars are selling like hot-cakes. People are taking more mass transit. They're trying to localize industries. Urban planners are re-energizing city centers and downtown areas, and concentrating living and commercial spaces and reducing the spread out norm of American cities. It's unfortunate that it had to come to this but the high cost of gasoline is finally making people change their way of living, in the direction this country desperately needs to go. The automobile fantasy bubble is coming to an end. |
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