In nearly every market at some point in 2008, vehicle manufacturers faced a similar problem: a dearth of buyers either holding tight to their cash as a hedge against possible job loss or unable to obtain loans from banks fearful of collapse....More
The GM-CAW pact was the first domino to fall in a game with no winners. And as sales spiraled downward, culminating in a 21.2% fourth-quarter plunge, auto makers shredded their production plans....More
The Henry Ford in Dearborn, MI, hosted its fifth annual Maker Faire Detroit this past weekend in highlighting the importance of grassroots innovation and problem-solving. Some 400 creators participated in this year’s event, including 100 for the first time.
“What we are finding is manufacturers are not only bringing technology in faster than we thought they would, they are also bringing different technology to fruition than what we anticipated,” says the EPA’s Michael Olechiw....More
The earnings swoon also reflected difficulties in international markets, specifically South America, where economic headwinds are affecting sales, and in Europe, where GM continues to book losses as it restructures its business....More
In October 2013, trade between NAFTA partners totaled $103.1 billion, up 4.5% from a year earlier, marking the first month in the pact’s history in which trade exceeded $100 billion in a single month....More
Economic recovery is weak and gradual, unemployment remains stubbornly high and Europe faces a growing and acute economic challenge from other global regions. We will only deliver the full potential benefits of the Single Market if we set a genuinely new course for Europe....More