Wednesday, November 19, 2008

Will America's 3 biggest automakers die?

Detroit's Big Three auto majors are in trouble having been buffeted by a recessionary hurricane that has played havoc with their sales and squeezed car loans. With the US sick of bailing out companies (that indulged in excesses) using taxpayer cash, these auto giants face death.

General Motors, Ford and Chrysler. The Big Three of the American automotive industry were, for the better part of a century, symbols of assembly line-driven efficiency, US industrial might and American technological innovation.

In short, they were the envy of carmakers the world over. Sure, there were blips and hiccups along the way, including a bailout for the floundering Chrysler in 1979. But as recently as 1990, after decades of domestic dominance, the Big Three still accounted for over 75 per cent of the immense US automobile market

Prakash's Graphic Signature

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