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Article: Economy compounds auto industry's woes.
- Article from:
- Plastics News
- Article date:
- October 13, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rhoda Miel
The bad news keeps getting worse for the North American auto industry and its suppliers, which had just settled in for one expected downturn in sales, only to get blindsided by a wider economic crisis that has threatened to bring sales and production nearly to a halt.
In the fallout, automakers are shutting down production of some vehicles to clear inventory, and suppliers are laying off employees to keep pace with their customers.
"If people don't buy cars, it echoes through the entire supply chain,'' said Jim Gillette, director of supplier analysis with CSM Worldwide, an automotive research company based in Northville, ...
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