The Troubled Auto Industry
A San Francisco Bankruptcy lawyer reflects on the state of affairs of the auto industry...
San Francisco bankruptcy attorneys may or may not agree, but It appears as though things may be improving, or at least not getting worse, for the troubled auto industry. Auto companies GM, Ford, Toyota, and Honda all said that their sales were roughly the same as they were last year. This is the second month in a row that auto manufacturers have been reporting this stability.
Chrysler’s sales, meanwhile, dropped 25 percent. Chrysler exited bankruptcy protection in June. Over the year their sales have decreased 38 percent. It would be difficult to blame the economy for this, since other auto manufacturers are doing so well. It seems the bankruptcy may not have been enough to save the company.
Hyundai’s sales actually increased a substantial 46 percent. This may be an indicator of an increased demand for inexpensive alternatives brought on by the economic downturn.
Sales in November were the highest they’ve been since the Cash for Clunkers program in July and August. Many believe this is a clear sign that the economy is improving.
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