Automotive woes

Posted in Business + Economy, Cartoons, Environment, IT + Technology, Politics + Diplomacy by expresscheckout on 3 December, 2008

As news of the economic downturn continues marred by the onslaught of unemployment rises, bailouts talks and consumer spending slumps, many American industries are far from unscathed. As Chrysler, Ford and General Motors (Detroit’s ‘Big Three’) turn to Congress this week for an astronomical $34 billion emergency package to counter plummeting sales and tapping into fast dwindling reserves, the future of the automotive industry looks uncertain. Hoping the government will come through with aid, many are counting on greener technologies and the selling of private jets along with subsidiary ventures such as Ford’s Volvo to help rejuvenate business and lift them from the economic doldrums. Ordinarily circumstance in which international competition would render the picture more bleak, Japanese and German companies too are suffering, with the German Association of the Automotive Industry’s sales projections dismal and Honda, Toyota and Nissan looking to cut production in Europe.

Fortunately Mark Fiore has come through with yet another cartoon to illustrate these events in more informative, inspired detail. His take on the Big Three and the US economy are well worth watching — the latter of which is inspired by the As Seen On TV! infomercial for The Clapper.

See also: Verband der Automobilindustrie