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Article: On the ropes; As faltering auto industry bleeds, tire makers suffer.
- Article from:
- Tire Business
- Article date:
- December 22, 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: Miles Moore
As the Bush administration weighs its options for financial aid to the troubled Detroit 3 auto makers, suppliers of tires and rubber parts to those auto makers are feeling the pinch.
Though some companies are more specific than others in what they reveal, various companies in the tire and auto parts industries agree that certain austerity measuresincluding production curtailments and employee layoffshave proved expedient in what some commentators call the worst economic crisis since the Great Depression.
"The effect of the current economic downturn on the whole tire industryincluding Good-yearis a decreased demand for both ...