1 / 6

Current Event Car Crisis

Current Event Car Crisis. Causes. Credit crisis has had a negative impact on consumers’ confidence and their purchase behavior (Americans bought 37% fewer cars in November than they did a year earlier Car dealerships are unable to access financing to purchase cars from the manufacturers

daire
Download Presentation

Current Event Car Crisis

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Current EventCar Crisis

  2. Causes • Credit crisis has had a negative impact on consumers’ confidence and their purchase behavior (Americans bought 37% fewer cars in November than they did a year earlier • Car dealerships are unable to access financing to purchase cars from the manufacturers • Last year’s rise in gas prices Josh Lanouette and Justin Gauvin

  3. Over 800,00 people lost car-related jobs in 2008, which accounts for 40% of the increase in unemployment •  A 50% reduction in the Big Three's domestic operations would result in 2.5 million people losing their jobs

  4. GM in 2009-Selling or Closing Hummer, Saturn and Sabb-Already received $13.4 billion in U.S. loans-Asking for $16.6 billion more -$7.7 billion in loans from the Department of Energy to develop fuel-efficient technology.

  5. GM in 2009 -Shut Down 5 more factories -Eliminate thousands of dealerships and 47,000 jobs around the world -Turn $29 billion in company debt by swapping debt for stock. -Stock today February 18, 2009 at 2.10 opposite to a year ago at 24.50

  6. Chrysler Filed for Chapter 11 Bankruptcy, foresees $25 billion in restructuring costs Lost $8 Billion in 2008 Chrysler has received $4 billion in loans and said it needs $5 billion more. Filed for Chapter 11 Bankruptcy

More Related