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Auto Parts Supplier Downshifts at its Plants
- Article from:
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Quad - State Business Journal
- Article date:
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June 1, 2008
- Author:
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Copyright informationCopyright News for Business, Inc. Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
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The auto industry is feeling the pain of an economic downturn, record gas prices and excess buyer incentives of prior years. As a result, Dearborn, Mich.-based International Automotive Components, one of the nation's largest auto suppliers, has been laying off employees along the Interstate 81 corridor, in Strasburg, Va., and Carlisle, Pa.
Sales of new automobiles in the United States peaked at 17.4 million in 2000, stayed in that range for five years, and are predicted to be just below 15 million this year as the economy slows and auto loans became more expensive. Facing huge losses, domestic auto manufacturers are scrambling to right their ships, cutting production capacities and ...
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